The round was led by L37, a hybrid venture capital and private equity firm. In conjunction with the deal, L37 Managing Partner Randall Ussery will join Pure Watercraft’s board of directors.
This investment will enable the company to grow the team and expand adoption of its solutions.
Founded in April 2011 and led by CEO Andy Rebele, Pure Watercraft delivers innovative marine propulsion solutions more sustainable for the planet. The company provides an electric outboard motor system with the propulsion equivalent of up to 50 HP gas outboards. Its proprietary lithium-ion battery pack is thermally-managed for high performance and long life, and has the most energy for its weight of any battery pack in marine — about the same as that of the Tesla Model 3.
Customers can shop directly at purewatercraft.com for drop-in replacement outboard motor systems or complete boat packages – rigid inflatable boats from Highfield Boats, fishing and pontoon boats from Bass Pro Shops, and coaching launches from Still Water Design.