X Shore electric boats raise $17M
Swedish electric boat building brand X Shore has released the results of its latest fundraising round. The shipyard, founded in 2016 by entrepreneur Konrad Bergström, has mobilized several investors for $17M in the space of 9 days, further proof of the excitement around the emergence of electric motorization in yachting. Team Europe, an investment company specializing in electric technology and mobility, was the main player in this round of financing. Marec Gasuin, director of development for Google's automotive business, and entrepreneur Navin Thurkkaram, head of Innovation Bootcamp, complete the round.
A second boat factory
While the X Shore brand presented its electric boat Eelex 8000 in the United States for the first time in March 2021, the funds raised will be used to accelerate the international development of the Swedish shipyard and to increase its production capacities. A second factory will be built in Sweden. A sales team will be set up in the United States to structure the distribution on the American market.
At the same time, technological developments are continuing. X Shore, with its marked step hulls, is positioning itself as a fast electric boat. The Scandinavian brand wants to add other innovative functions to its electric propulsion and move towards the connected and autonomous boat. In this context, the company's engineering teams are working on the boat's automatic docking function.
