Why This LA VC Firm Invested Early in Slate Auto
Interestingly, Los Angeles–based Slauson & Co. spotted Slate Auto early and joined its $100 M+ Series A in 2023 well before mainstream hype took off. Specifically, partner Ajay Relan explained that their investment hinged on Slate’s mission to create affordable, reliable, and customizable EVs built in the U.S. . Moreover, they valued Slate’s veteran leadership team, including CEO Chris Barman, whose decades of experience at Chrysler stood out to them . Finally, the company’s early traction such as achieving 100,000 refundable reservations in two weeks confirmed strong demand and underscored Slauson’s confidence in Slate’s market potential
Mission Meets Market
- Slauson’s co-founders believed in Slate’s goal: affordable, reliable, customizable EVs built domestically. They saw a mismatch between high prices and consumer need for simple, accessible electric vehicles .
- They connected through Jeff Wilke former Amazon exec, who introduced them to Slate’s founding team in early 2023 .
Team & Tech
- Slate’s leadership brings decades of automotive experience. CEO Chris Barman led projects at Chrysler and Waymo, while other executives came from Harley-Davidson and Rivian .
- Slauson co-founder Austin Clements noted that Barman “has great vision… She’s really about delivering.
Cultural & Strategic Fit
- Slauson & Co. champions underrepresented backgrounds in tech. They saw Slate’s Detroit–LA roots and mission as aligned with their ethos techcrunch.com.
- They valued Slate’s modular, no-frills approach, likening the vehicle to a modern Model T stripped-down, affordable, and easy to customize .
Early Validation
- Slate hit 100,000+ refundable reservations within two weeks of unveiling in 2025, signaling strong demand .
- Despite the notoriously low margins in the auto industry, Slauson believes their investment in Slate Auto can succeed because Slate targets first-time buyers and focuses on modular upgrades. Specifically, Slate offers customizable options like lighting, audio, and wheels as standalone upgrades that users can easily add or change later. Consequently, this model reduces upfront costs and keeps consumers engaged over time. Moreover, this approach aligns with Slate’s mission to make affordable, reliable EVs with long-term appeal, which attracted early investment from Slauson & Co. in their $100 M+ Series A round .
The Upside Potential
- With backing from Jeff Bezos, Mark Walter, and others, Slate is well-funded with $700M raised to date .
- Despite the notoriously low margins in the auto industry, Slauson believes their investment in Slate Auto can succeed because Slate targets first-time buyers and focuses on modular upgrades. Specifically, Slate offers customizable options like lighting, audio, and wheels as standalone upgrades that users can easily add or change later. Consequently, this model reduces upfront costs and keeps consumers engaged over time. Moreover, this approach aligns with Slate’s mission to make affordable, reliable EVs with long-term appeal, which attracted early investment from Slauson & Co. in their $100 M+ Series A round.
The Vision of Slate Auto
Initially, Slate Auto entered the electric vehicle (EV) market with a bold vision, aiming to revolutionize urban transportation. Specifically, they emphasized sustainable practices and cutting-edge technology. As a result, this focus caught the eye of high-profile investors such as Jeff Bezos, Mark Walter, and Thomas Tull who were eager to back future-proof opportunities in the EV space
Why This VC Firm?
Remarkably, several key factors aligned perfectly, making this Los Angeles–based VC firm an ideal early investor:
- Local Expertise: Their deep understanding of the LA tech landscape and its unique challenges.
- Sector Focus: A proven track record of successful investments in the automotive and clean energy sectors.
- Shared Values: Alignment with Slate Auto’s commitment to sustainability and innovation.
Due Diligence and Market Analysis
Before committing capital, the VC firm conducted thorough due diligence, including:
- Market Research: Analyzing the growing demand for electric vehicles in urban environments.
- Competitive Analysis: Assessing Slate Auto’s unique position and competitive advantages.
- Financial Modeling: Projecting the company’s potential revenue and profitability.
Strategic Partnership
Importantly, the investment wasn’t just about money; it was about forming a strategic partnership. Specifically, the VC firm provided Slate Auto with access to:
- Industry Experts: Mentorship and guidance from seasoned automotive professionals.
- Networking Opportunities: Connections to potential customers, suppliers, and partners.
- Marketing Support: Assistance in building brand awareness and reaching target markets.
The Future of Slate Auto
With Slauson & Co.’s backing, Slate Auto continues to innovate and expand its reach. Moreover, their success demonstrates the power of strategic investments in companies that drive positive change and reshape industries.
