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Juva Yachts launches first funding round to build prototype

With a successful funding round, Juva Yachts hopes to begin prototype production this April, completing the first boat in November 2023.

The Helsinki-based startup has announced the launch of its first funding round. Juva Yachts are raising €500,000 to build their prototype, strengthen the team and open into the first markets of Northern and Central Europe and the US.

After the prototype, their manufacturing process will be a smooth and cost-efficient serial production. With one set of moulds, the cost for serial production of boat manufacturing will be €98,000, producing one boat a week.

The Product

Juva is on a mission to drive sustainable change within the leisure boating industry. They have taken sustainability credentials a step further by addressing the industry's current issue; range anxiety. The Juva e/y 30 is an all-electric cabin cruiser with a limitless range.

It is 100% electric complete with a solar roof, with energy autonomy at 2-3 knots. There are three sizes of battery packs on offer, 46,70 and 93 kWh, within the plans. The Juva Foil reduces resistance by 10-15% at 3-12 knots, leaving minimal wake and zero noise and emissions to truly allow the user to be at one with nature. While not compromising performance and optimising energy consumption, the boat can reach a top speed of 12 knots and comfortably cruise at 6-10 knots.

Using innovative vacuum infusion technology means that the boat will be optimised and ecologically manufactured with recycled materials, resulting in lightweight structures. The manufacturing process is solving another prominent sustainability issue that our oceans face, with the hull and deck core materials made from recycled plastic bottles.

At 9.3m, the boat's design is a clean Scandinavian functional layout, with a free-flow space between the aft deck and pilothouse, with enough space to sleep up to 4 people in the main double cabin and two additional cabins. Continuing electrification within the living space is the electric bathroom, including a rain shower and electric AC, and the option for heating in the colder climes.

As well as an intuitive user experience, safety has been considered complete with remote access and monitoring and an electric locking system. Perfect for private boaters as well as boat rental services and hospitality clients.

The Team

Electrification can be challenging to navigate. But Juva is backed by experienced and passionate seafarers with a wealth of experience and depth of knowledge of the industry's problems, providing viable solutions to the market with the Juva e/y 30 project.

The project started in February 2022, founded by Oskari Juva, a professional seafarer and a seasoned business developer at various startups. By October 2022, Juva had completed the concept and mould design.

Another keen seafarer is Juva's CEO, Stina Mantyniemi; her product development background helps guide and cement the brand. For engineering and design, Arttu Myllar is responsible for this Juva, an experienced naval architect that draws from his expertise as the founder at R2 Marine. Jussi Kallasvuo takes care of the business side of things, bringing his experience of international capital markets and investments to Juva.

Commenting on the round, Oskari Juva said, "Having spent all my life on waters, I felt the need to do something in order to give the next generation the same chance to enjoy our wonderful seas. We have been working hard to create a boating experience that serves the needs of both today and tomorrow. With our own personal sailing knowledge combined with decades of yacht design experience I'm confident to say we have created something extremely appealing. We are happy and excited to welcome new investors to join the crew before we truly put the wind in our sails."

CAPITAL AT RISK. Investing in start-ups and early-stage companies involves risks, including illiquidity, lack of dividends, loss of investment and dilution. It should be done only as part of a diversified portfolio. There is no assurance that the investment objectives of any investment opportunity will be achieved or that the strategies and methods described herein will be successful. Investors are recommended to seek independent advice before committing or if they have any doubts as to the appropriateness or suitability of such an investment in relation to their specific circumstances.


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