New $50 Million funding for electric boat manufacturer X Shore

Electric boat manufacturer X Shore has secured another $50M in funding (approx €45.9M), which will be used to ramp up production at its new factory in Nyköping, Sweden and also support increased research and development. New investors include Peter Carlsson, founder and CEO of Northvolt batteries, who is joined by X Shore board members, management and existing owners. Previous investors in X Shore include Delivery Hero founder Lukasz Gadowski’s Team Europe holding company, Navin Thukkaram, founder and CEO of Innovation Bootcamp, and Marec Gasiun, former Head of Automotive Business Development at Google.