More electric boat investments – Arc Boats $30M Series ‘A’ round
The electric boat investments world keeps heating up. One day after GM announced that it will be investing $150M in electric boating company Pure Watercraft, Arc Boats has announced a successful $30M Series A fundraising round. This comes in the wake of (pun intended) high profile investments in the all-electric wakeboarding towboat by Will Smith, Kevin Durant and Sean ‘Diddy’ Combs. Arc’s development team includes a number of experts from Space X, and some of the original investors in Arc were Silicon Valley titans Andreesen Horowitz and Lowercarbon Capital, who invested early in companies like twitter, Uber and Instagram.