$5.4 million was raised by Telo, an electric mobility business based in San Carlos, CA, that is developing EV mini-trucks.
Ali Partovi led the round, which also included angel investors and Spero Ventures. This came after a $1.78 million pre-seed funding round that was revealed during the company’s launch in June 2023. Underdog Labs, WorkPlay Ventures, Yves Béhar, the co-founder and chief creative officer, and a few angel investors also contributed to the round.
The money will be used by the company to produce a road-ready model and to carry out the virtual certification of the vehicle’s safety.
Teelo, under the direction of CEO Jason Marks, produces small electric vehicle trucks for weekend excursions and city living. Launched in 2023, the iconic Telo Truck is a 152-inch reduced vehicle with a standard bed capacity and crew cabin.
The business began working on a drivable chassis in late 2023. The team has been working hard lately to complete the vehicle’s roll cage, which is a crucial step toward the creation of a working prototype.
In the future, Telo plans to handbuild the first 500 or so vehicles to be delivered to clients before scaling up production to allow for mass delivery. It’s received more than 2,500 preorders.
The business also stated that Marc Tarpenning, a co-founder of Tesla, will be joining the board this month in conjunction with this news.
About Telo
TELO Trucks offers smart, compact electric vehicle trucks for city and weekend adventures.
Practical trucks for urban and suburban surroundings and active lives are needed as EV demand rises. We aim to make sustainable mobility useful. We make right-sized vehicles with extra capacity for people and gear.
TELO is reimagining EVs with big truck utility and street smart technology to create a more purposeful and responsible transportation future with less wasted space in vehicles, on roads, and on the planet.
Jason Marks, who developed the test systems for five major US automakers’ driver assistance safety features, and Forrest North, who helped develop the first Tesla Roadster and Mission Motors, founded TELO. TELO designed the car with world-renowned designer, advisor, and investor Yves Béhar and Fuseproject.
