Overview

• Designer Yves Béhar and Tesla co‑founder Marc Tarpenning led the oversubscribed round, with participation from TO VC, E12 Ventures, Neo, Marc Benioff, Uncorrelated Ventures, Nova Threshold and MCJ.
• TELO will use the capital to finalize a production‑intent MT1, complete crash testing, and homologate the truck for U.S. roads, with first deliveries targeted by the end of 2026.
• The company plans initial output of roughly 5,000 trucks per year via contract manufacturing and will keep a lean core team of about 25 employees supported by contractors.
• TELO reports more than 12,000 pre‑orders for the MT1, representing over $600 million in reservations.
• The compact MT1 seats five and offers a 5‑foot bed that extends to 8 feet, all‑wheel drive, and up to about 350 miles of range, with a starting price around $41,000.