Matt Miller

Don't miss it right here on Bloomberg TV and on your Bloomberg terminal as well.

Sticking with space, I'm also watching shares of Rocket Lab.

You can see they're up right now about 3.5% after yesterday Rocket Lab got the okay on an acquisition.

So investors are still looking at these highly volatile stocks as an interesting opportunity, at least on up days like today.

Coming up, electric bike startup also has reached a $1 billion valuation.

We'll talk to the co-founder and president about the latest fundraise and a new partnership with DoorDash.

to execute the last mile of delivery.

This is Bloomberg Tech.

Also is an electric bike and mobility startup that was spun out of the carmaker Rivian.

It's now reached a $1 billion valuation in its latest funding round.

The company raised $200 million and announced a strategic partnership with the delivery firm DoorDash, which is investing.

Also is president and co-founder Chris Yu joins us now.

And Chris, you know, we were showing video of...

some dude ripping up the trails on an electric bike, which is I'm sure possible on your product, but I'm getting from the DoorDash connection that your business case is more about last mile delivery.

Is that the case?

It's quite broad, yeah.

So we were incubated within Rivian for a couple of years, and just a year ago, we spun out as also.

An entire thesis that RJ and I had in building also is around building the world's first vertically integrated and software-defined EV platform that's optimized for small form factors.

And that goes for consumer use cases, like the fun experience on our eBike TMB, which we launched in October, as well as importantly for commercial use cases, because we see that

If you look globally, the vast majority of trips that happen for the movement of people and goods happen in really dense suburban and urban areas where cost per mile and time for deliveries is really important.