Telo Secures $20 million Series A Funding to Advance Compact Electric Truck Development
SAN FRANCISCO, CA – Telo, a startup focused on building small-footprint electric vehicles, has announced a $20 million Series A funding round. The investment will be used to finalize development of the MT1, a compact electric pickup truck designed for urban environments.
The funding will cover critical steps including vehicle homologation to U.S. safety standards and completion of necessary crash testing. According to telo CEO Jason Marks, the latter is particularly vital given the MT1’s unconventional, short wheelbase, which has raised questions about safety.
Telo anticipates delivering its first MT1 trucks by the end of 2026. The company plans to operate with a lean structure, maintaining a core team of around 25 employees while utilizing consultants and contractors, many with established relationships with Telo board member Marc tarpenning.
The Series A round was filled with angel investors and smaller companies within the EV industry, creating “a pretty unbelievable community that just wants to see new architectures for mobility succeed,” Marks stated.
A key focus for Telo is maximizing utility within a small package. Marks emphasized the company’s approach of “performance per square foot,” highlighting the MT1’s ability to seat five passengers while offering a five-foot bed – approximately half a foot longer than beds found on trucks like the Rivian R1T (4.5-foot bed) and Ford Maverick.
Telo is targeting a range of approximately 350 miles on a full charge, positioning the MT1 competitively within the EV market. Achieving this range involved balancing the benefits of the vehicle’s small size and reduced weight with the challenge of packaging a 106kWh battery pack into a footprint comparable to a Mini Cooper.
While details are limited due to pending patents, Marks explained that the MT1 prioritizes range over rapid acceleration, effectively trading some performance for battery packaging efficiency.
The company believes there is a market for vehicles of this size, pointing to the growing popularity of Japanese Kei trucks in the U.S. as evidence. Despite current challenges facing EV adoption in the U.S.,Marks expressed confidence in Telo’s ability to succeed by leveraging a Silicon Valley approach focused on maximizing impact with limited resources.
“Do things that big corporations can’t do?” Marks asked, encapsulating Telo’s strategy.
Note: A previous version of this article incorrectly identified Marc Tarpenning as a Telo co-founder. He is a member of Telo’s board.This has been corrected.
