Telo raises US$20m to launch compact pickup CV

Telo Trucks has raised US$20m in an oversubscribed Series A round to bring its MT1 compact electric commercial pickup to market, betting that a capital-efficient, low-volume strategy can succeed where many e-mobility startups have failed. The would-be automaker’s funding was led by co-founder and designer Yves Béhar and Tesla Co-Founder Marc Tarpenning, with additional backing from Salesforce Chief Executive Marc Benioff, E12 Ventures, Nova Threshold and others.