The Rivian spinoff Inc. was able to collect $ 200 million in a new financing round and thus reaches an assessment of $ 1 billion.
• So Inc. becomes a unicorn after the spin -off from Rivian
• Strong team and Rivian technology as the basis for micromobility
• Focus on e-bikes and mini-electric vehicles for global markets
From the secret mission to a billion dollar company
The Micromobility Startup So Inc. has collected $ 200 million from Greenoaks Capital in a new financing round. As can be seen from a report by Bloomberg News, this financing brings the company’s post-money rating to $ 1 billion. The young company reaches the coveted Unicorn status just a few months after the spin-off from the electric car maker Rivian Automotive.
So Inc. was originally known as the “Project Indian” – a Skunkworks team within Rivian, which was founded in 2022. The team started with the development of an e-bike and even got support from the renowned design company LoveFrom of the former Apple designer Jony Ive. As early as March 2025, the company was outsourced as an independent company from Rivian and received an initial financing of $ 105 million from Eclipse Ventures.
The history of origin of it goes back to 2019 when Rivian CEO RJ Scaringe, together with the then Chief Growth Officer Jiten Bel, recognized that there was a gap in the market for smaller, sustainable transport solutions. As can be seen from the TechCrunch report, Bel explained at the time that the infrastructure of the cities was so obtained that large cars cannot drive around, but there are still mobility needs. You need something different, something smaller, something more flexible.
Technology transfer for micromobility
The special thing about Inc. is the close connection to Rivian and the use of the technology developed there. Chris Yu, the former VP of Future Programs at Rivian and now President of So, according to Techcrunch, emphasized the advantages of this starting point: Most companies in the micro area do not have a complete power electronics team and have no team that develops and builds the software operating system.
Rivian keeps a minority stake in and and RJ Scaringe acts as part of the board of the new company. The two companies are planning close cooperation, which may also include the use of Rivians retail network. The approximately 70-member team of i.e. that is composed of experts from Apple, Google, Specialized, Tesla, Rei Co-OP and Uber, now works on the development of various micro-electro vehicles from Palo Alto.
Diverse product plans for global markets
Inc. positions itself as a “Micromobility” company that wants to develop a variety of small electric vehicles for different areas of application. The company plans to develop e-bikes as well as three- and four-wheel neighborhood vehicles and micro cars. The technology platform should be designed so flexibly that it can be adapted for different vehicle types and markets.
As can be seen from a report by Emerging Tech Brew, Yu explained that the vehicles will be particularly suitable for US communities in which golf cars and similar micromobility solutions are already part of everyday life. In addition, the company plans to develop special product lines for both consumers and for commercial customers in regions such as Asia and South America.
The company sees great potential, especially in the commercial area. According to YU, the need for small electric vehicles in the commercial area is even more acute than in the consumer area, especially in dense metropolitan areas in Europe, where city centers for cars and vans are blocked.
Strong investor trust despite confidentiality
The fact that Inc. has achieved a billion -in -term evaluation before the company even published specific product details shows the enormous trust of investors in the concept and the team. Greenoaks Capital, which leads the current financing round, is known for investments in promising technology companies.
With its Palo Alto-Base and a planned team of around 80 employees, strategically positions itself in the heart of Silicon Valley. The company plans to reveal the first designs this year and to launch the flagship product for consumers in the USA and Europe in 2026.
D. Maier / Redaktion Finanzen.net
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