Electric boat start-up attracts additional $30m investment

The electric boat start-up company Arc, which is not even a year old, has added to the seed investment from the venture capital firm Andreessen Horowitz a further $30m investment led by an early Tesla executive. The $30m Series A fund was led by Greg Reichow, the former Tesla exec who is now a partner at Eclipse Ventures. Existing investors – Andreessen Horowitz, Chris Sacca’s Lowercarbon Capital and Ramtin Naimi’s Abstract Ventures – also joined.