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When electric - vehicle startup Telo Trucks declare itspint - sized pickup , multitude predictably went nuts . There ’s a cell for whom small-scale truck are n’t just commodious , they ’re a lifestyle , one that major automaker have for the most part ignored for the last 20 years as they ’ve trail high-pitched - tolerance , full - size pickup . With little more than some renders and other epitome , the fellowship has racked up closely 3,000 qualification .
But over the last several month , something less expected take place . Fleet customers went cracked , too .
“ There ’s this wordless thing where fleet companies that do work in metropolis can no longer bribe small-scale trucks , ” Jason Marks , Telo Truck’sco - beginner and CEO , told TechCrunch . “ They used to have a go at it them : They were perfect for these fleet applications programme for downtown urban center , but they do n’t exist anymore . ”
What some fleet managing director have resort to is buying neighbourhood galvanising vehicle , which are basically soup - up golf carts that can be equip with a small-scale bed in the back . But because those low-down - speed vehicle ca n’t be used on the highway , the fleet also has to buy and maintain a full - size pickup to be able to accomplish everything it needs to do .
“ It ’s a unequaled chance , because we have this massive hole in the market place , ” Marks said . “ We will still want to address the early users , and we want to blend that with delivering to bigger fleet customers at the same time . ”
With that chance comes more funding . TechCrunch has exclusively learned that Telo has raised a $ 5.4 million circle from Neo and Spero Ventures . Marc Tarpenning , a Spero speculation partner and Tesla cobalt - father , will be joining the dining table .
“ He ’s always been someone that we can call up and say , hey , we ’ve got this idea , what do you call up ? And so when it came clip to raise a round , you know , we thought it was very meet to invite him to join our company , ” Marks say .
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Marks said the novel funding will assist Telo develop thick human relationship with likely fleet customer and modernise two “ in full functional press vehicles ” that will have the looking , palpate and set and destination of the final product . “ mass can get in it , they can drive in it , they can really experience it . ”
Telo recently finished tot a gyre cage on top of its frame paradigm , and Marks say that the team has been working on tackle various technical challenge , include how a fomite with a stubby front end can protect its occupants in a clash . He did n’t have any specifics to deal but hinted that they ’d be looking at something beyond crumple geographical zone .
“ They entrust a lot of material in that blank still , ” he said . “ And that ’s been fine when you have an immovable Fe block that ’s an engine . But when you have an unobtrusive orbit for crumple , you’re able to do a duet of more unique things that do n’t have that remnant material . ”
For any self-propelled startup , the ramp to production is perhaps the biggest hurdle . Marks acknowledged that , say that to trim manufacturing costs , Telo has been using off - the - ledge component with a few modification . The startup is also looking to work with contract manufacturer , likely domestic , that produce on a smaller scale , something on the order of 500 to 5,000 vehicle rather than 50,000 or 500,000 .
“ We want to get to profitability at low intensity for specific use cases that we have a recess in , that we ’re not competing against a lot of people on , ” Marks said .
Low - bulk yield would help keep off some of the challenge that other freshman have encountered . Rivian is notably similar in that it ’s chasing both consumers and fleet customer , though its yield ramp is radically different . That ’s in part because it ’s track consumer - focused motortruck and sport utility , section in which there is already build competition .
Telo does n’t have that same concern . Even today ’s midsize pickups like the Ford Ranger and Toyota Tacoma are far from compact , giving Telo some probable breathing way that others have n’t enjoyed . It wo n’t have the market place to itself forever , but it might be enough meter to help them through the grading stage that ’s tripped up many of its peers .
