March 26 (Reuters) - Micromobility startup Also said on

Wednesday it has been spun-off from electric-vehicle maker

Rivian Automotive ( RIVN ) with $105 million in Series B funding

from venture capital firm Eclipse and will focus on lightweight

EVs.

Also will offer small, lightweight, electrically powered

vehicles to serve customers at various price points and across

geographies, the company said, but did not give specific details

about the products.

As demand for sustainable transportation grows, startups are

increasingly focusing on small electric vehicles as a solution

to congestion, affordability and increasing emissions.

The micromobility sector has been plagued by bankruptcies

and financial setbacks, with companies such as Van Moof, Bird

and Lime struggling due to high costs and regulatory challenges,

leading to business models that failed to turn venture capital

enthusiasm into profitable urban transportation solutions.

"There's not a singular form factor (physical design, shape

and size) that answers all needs," Rivian CEO RJ Scaringe told

Reuters.

"We've been taking the Rivian technology stack and adapting

it to much smaller form factors and then coming up with some

incredibly exciting embodiments of that technology in these very

small form factors."

Also, which will operate independently with minority

ownership from Rivian, will reveal its products later this year,

Scaringe added.

Rivian has been working on micromobility products using the

company's electric vehicle technology and had filed a trademark

for bicycles, electric bikes and related parts in early 2022.

Also plans to expand globally with its initial flagship

product in 2026 meant for the United States and Europe, followed

by tailor-made electric vehicles for Asia and South America.