TELO, an emerging leader in electric vehicle innovation, has announced a significant $5.4 million funding round led by Neo. The investment, which includes contributions from Spero Ventures and several angel investors, marks a pivotal moment in the company’s expansion. This financial milestone follows a $1.78 million pre-seed round and comes alongside the appointment of Tesla co-founder Marc Tarpenning to TELO’s board.

Tarpenning’s involvement is expected to be instrumental in guiding TELO through the final development stages of its pioneering EV mini-truck. The newly acquired funds will fuel the virtual validation of the vehicle’s safety features and the creation of a road-ready model.

Ali Partovi, CEO of Neo, expressed enthusiasm for the company’s direction, stating, “Small is the new big, even in pickup trucks.” Jason Marks, Co-Founder and CEO of TELO, echoed this sentiment, highlighting the strategic nature of the investments and the alignment of the investors with TELO’s vision.

With over 2,500 pre-orders already secured, TELO is setting a new standard for cost-effective electric vehicles. The TELO Truck, designed for urban environments, boasts advanced electric and autonomous technologies. The company has made significant strides in its development, including a drivable chassis and a finalized roll cage for the vehicle.

Looking forward, TELO plans to handbuild an initial batch of approximately 500 vehicles for delivery to customers, with ambitions to scale up manufacturing for wider distribution. The company’s progress represents a transformative shift in the electric vehicle industry, offering a glimpse into the future of urban mobility.

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