A Big Raise for a Small Truck
Telo Trucks has secured $20 million in a Series A round to fund its MT1 electric pickup. The investment was oversubscribed, led by co-founder Yves Béhar and Tesla co-founder Marc Tarpenning. Salesforce CEO Marc Benioff also joined, signaling strong belief in Telo’s vision.
Unlike past EV startups that burned billions, Telo is betting on a leaner, more capital-efficient path. The company aims to prove profitability at low volumes instead of chasing mass production from day one.
What Makes the MT1 Different
The MT1 isn’t another oversized electric truck. It’s a compact pickup designed for urban life yet powerful enough for weekend adventures.
- Size: Roughly equal to a Mini Cooper in length
- Capacity: Seats five adults, plus a 60-inch truck bed
- Range: Up to 350 miles on a charge
- Power: 500 horsepower, 0–60 mph in 4 seconds
Through an innovative midgate, the truck bed can expand to fit 4-by-8 plywood sheets or surfboards—all while keeping a compact city footprint.
Pre-Orders and Market Potential
Founded in 2023 and based in San Carlos, California, Telo has already racked up over 12,000 reservations. Customers range from municipalities to delivery fleets. If just half of those pre-orders convert, the company estimates it could reach unit profitability.
At $600 million in potential revenue, Telo is showing real traction even before mass production begins.
Why Investors Are Watching Closely
Skeptics point to the EV startup “graveyard,” where companies collapsed under high costs and missed goals. But CEO Jason Marks believes Telo’s focus on contract manufacturing, battery expertise, and safety engineering gives it an edge.
By keeping costs low and building a unique product that doesn’t exist in today’s market, Telo hopes to avoid the fate of others.
The Takeaway
The MT1 is more than a mini truck—it’s a bold experiment in capital-efficient EV manufacturing. If Telo delivers, it could prove that small, smart design beats big spending.
A compact truck with big utility might just be what the EV market needs.
