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Top funding rounds of 2023

Our 2023 round-up of the largest funding rounds in the leisure marine and yachting industries is here. The startups detailed raised $186M in funding collectively.

1. Skipperi: €7M

In February of this year, Skipperi, the shared-use boating subscription service and peer-to-peer boat rental platform, successfully closed a €7 million series A funding round. The round was led by Yamaha Motor, with Baltiska Handels Sverige, Matu Capital, and HP Capital also participating. Skipperi Fleet grants registered members unlimited access to over 400 boats across six countries through a dedicated app. The company will use the amount raised to fund its international expansion to Brisbane, Australia, and several locations around the US while strengthening its platform and tech team.

2. ZEN Yachts: €5.5M

In March, ZEN Yachts, the solar electric catamaran manufacturer, announced the completion of a Series A funding round amounting to €5.5 million and led by Ocean Zero LLC. Ocean Zero’s Managing Partner is Chris Anderson, Curator of the TED Conferences, and the TED Countdown initiative that seeks to accelerate solutions to the climate crisis. Founded in 2021 and headquartered in Spain, ZEN Yachts, which stands for "Zero Emission Nautic Ltd." aims to boost the popularity of zero-emission yachts by combining wind sailing with electric propulsion.

3. NAVIA Yachts: €250K

In March, the Italian startup Navia Yachts closed a €250,000 funding round to kickstart the production of their electric inflatable boats. The team plans to initiate a second funding round in Q1 2024 to begin production of the Navia 44 and scale up their production efforts. Navia's mission is to enhance the accessibility of fully electric recreational boat fleets for rental companies by providing inflatable boats on loan, a charging WALL BOX for the boat slip, management software, maintenance, and 24/7 assistance.

4. Candela: $20M

In March, Swedish startup Candela secured €18.7 million ($20 million) to bring its passenger hydrofoil vessels to mass production. The round co-led by EQT Ventures and investor duo Joel Eklund (Fosielund Holding AB) and Svante Nilo Bengtsson (Marknadspotential AB), with participation from Ocean Zero LLC and others.

The company's goal is to contribute to making lakes and oceans fossil-fuel-free by developing electric vessels, with a particular focus on bringing its passenger ferry to mass production.

5. X Shore: $30M

Swedish climate technology company and electric boat manufacturer X Shore secured SEK 300 million ($29 million) in its latest investment funding round in April. The investment round was led by SEB Investment Management AB, and was also supported by several existing and new shareholders.

Recognized as one of the most sustainable manufacturers globally, X Shore plans to use the proceeds to scale electric boat production to meet growing demand and invest in North American market operations.

6. ZPARQ: €2.5M

Zparq provides electric motors and complete powertrains for recreational boats and commercial vessels, where an environmentally friendly, efficient, and quiet propulsion with minimal maintenance is required.

In May this year, the Swedish startup closed a €2.5M seed round. The funding round was co-led by Santander (through Santander InnoEnergy Climate Fund) and Almi Invest GreenTech, current investor EIT InnoEnergy also participated.

7. Evoy: €6.4M

In June, Evoy raised €6.4M in a funding round led by Axopar. The funding round positions Evoy at the forefront of the rapidly growing electric boating market, expected to reach significant proportions by 2030.

Evoy strives to deliver an irresistible boating experience by designing long-lasting electric boat motors: and inboard and outboard systems, accelerating the transition to sustainable electric boating.

This year's significant investment will accelerate Evoy and further establish the company as the go-to brand worldwide for high-performance electric boating, not only in Europe but also towards North America.

8. Arc Boats: $70M

Arc Boats raised a $70 million Series B round from investors led by Eclipse, a firm focused on real-world startups, and included existing investors Andreessen Horowitz, Lowercarbon Capital and Abstract Ventures, as well as new backer Menlo Ventures to move beyond high-end electric boats and expand its operations toward electrifying more of the marine industry.

Co-founders Mitch Lee and Ryan Cook are planning to scale up with a new higher volume electric boat designed for wakeboarding, wake surfing and other watersports such as tubing.

9. REGENT raises $60M

In October, REGENT Craft, the Rhode Island-based manufacturer of all-electric seagliders, announced raising $60 million in Series A funding co-led by 8090 Industries and Founders Fund.

This funding will ensure the completion of REGENT's full-scale prototype build and test program, with plans for crewed flight in 2024, paving the way for certification, manufacturing, and delivery of seagliders by mid-decade.

10. CetoAI: £1.5M

In October, maritime predictive analytics company CetoAI secured £1.5 million in seed funding, led by Howden Ventures and with participation from Chaucer Group, Founders Factory, and existing investors from the Business Investors Group.

CetoAI provides powerful predictive analytics to the maritime industry; combining high frequency data, engineering expertise and artificial intelligence to reduce machinery breakdowns, cut carbon emissions and manage operational risk.


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