Telo Trucks, a US-based electric vehicle startup, has successfully raised $20 million in an oversubscribed Series A funding round to advance production of its compact electric pickup, the MT1. The funding round was co-led by Telo co-founder Yves Béhar and Tesla co-founder Marc Tarpenning, with additional backing from Salesforce CEO Marc Benioff, E12 Ventures, and Nova Threshold.
MT1 Compact Pickup: Specs and Features
The MT1 is designed to deliver the capabilities of a full-size crew cab work truck within a footprint comparable to a two-door MINI Cooper. Key specifications include:
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Dual-motor AWD system with 380 kW power output
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106 kWh battery providing up to 350 miles of range
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60-inch truck bed for urban cargo flexibility
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Payload capacity: 1,600 pounds
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Towing capacity: 6,600 pounds
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Starting price: $49,999
Strong Market Demand and Preorders
Telo Trucks has already secured over 12,000 preorders, representing potential revenue exceeding $600 million. The company emphasizes unit profitability at lower production volumes, aiming to deliver a unique, urban-friendly EV pickup rather than competing on mass production scale.
Investor Confidence and Growth Strategy
This Series A round follows Telo’s $6 million seed round and $2 million pre-seed round, reflecting strong investor confidence in the startup’s vision for compact, city-optimized electric trucks. The MT1 aims to fill a niche in the EV market by combining utility, efficiency, and sustainability in urban environments.
Looking Ahead
Telo Trucks is preparing to scale production and meet federal regulatory requirements to bring the MT1 to market. The company’s focus on compact EV pickups positions it to capitalize on growing demand for eco-friendly, versatile vehicles suitable for urban logistics and small business applications.
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