Rivian Spinout Also Secures $150M to Expand Into Autonomous Delivery

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Also, a company that spun out of electric vehicle maker Rivian, has raised $150 million in a new funding round. The investment was led by Prysm Capital. The fresh capital will be used to grow the company's product lineup beyond its current offerings of pedal-assist electric bikes and commercial cargo quads. Also plans to use the funding to develop autonomous delivery vehicles as its next major expansion area.

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