Cleaner Tech
Electric Speed Boat Maker Expands to Defense With New Funding
Arc received backing from a16z, Lowercarbon Capital and other venture firms in its latest fundraising round.
The Arc Sport electric wake boat.
Source: Arc Boat CompanyLos Angeles-based electric powerboat maker Arc Boat Company has raised $50 million to finance its expansion into commercial and defense vessels.
Arc has raised a total of $160 million since it was founded by veterans of Rivian Automotive Holdings Inc., SpaceX and Tesla Inc. in 2021. Investors in the latest round included Eclipse Ventures, a16z, Menlo Ventures, Lowercarbon Capital, Necessary Ventures and Offline Ventures.