TLDR:
Key Points:
- Telo, a San Carlos-based electric mobility company, raised $5.4M in funding led by Ali Partovi.
- The company plans to use the funds to continue the development of its electric mini-truck and deliver over 2,500 pre-orders.
Summary:
Telo, a San Carlos-based electric mobility company, has recently raised $5.4M in funding with a round led by Ali Partovi. This funding follows a previous $1.78M pre-seed round and will be used to continue the development of the company’s electric mini-truck, the Telo Truck. Led by CEO Jason Marks, Telo aims to create compact electric vehicles for city living and weekend adventuring. The company has already secured over 2,500 pre-orders and is in the process of virtual validation of the vehicle’s safety and development of a road-ready model.
The company has also announced the appointment of Marc Tarpenning, co-founder of Tesla, to the company’s board. In addition to securing funding, Telo is focused on handbuilding the first set of vehicles for delivery to customers and eventually scaling up for mass manufacturing. The team has made progress in developing a drivable chassis and has recently finalized the roll cage for the vehicle, an important step towards creating a final prototype. Overall, Telo is poised to make a significant impact in the electric vehicle market with its innovative approach to compact and sustainable transportation.
