Arc, a Los Angeles, CA-based producer of an electric boat, raised $70m in Series B funding.
Backers included Menlo Ventures and current investors Eclipse, Andreessen Horowitz, Lowercarbon Capital, and Abstract Ventures.
The company, which has now raised over $100m in total funding, intends to use the capital to continue to expand operations and its development efforts.
Founded in 2021, Arc is developing the next generation of watercraft, starting with electric sport boats by blending modern aerospace design and manufacturing techniques with traditional marine craftsmanship. The company is designing its battery packs, powertrain, thermal control systems and software in-house.
FinSMEs
29/09/2023