Boating is going fully electric.

‍What’s happening:‍

• Electric boat manufacturing startup Arc has raised a new $70M Series B round
  
• The round included some of Silicon Valley’s largest investors including a16z, Lowercarbon Capital, Abstract Ventures, Menlo Ventures and more
  

Why it matters:‍

• Recreational boats consume fuel and emit carbon so they represent a big opportunity for electrification
  
• The massive adoption of electric vehicles has led many startups to begin pursuing electrifying other popular areas of transportation that are powered by gas
  

By the numbers:‍

• Arc is building a 150,000 square foot manufacturing facility to produce the next iteration of their electric boats
  
• Over $100M in venture funding has gone into Arc so far since inception
  

Going deeper:‍

• Arc designs and manufactures everything in their boats including their own battery packs, software and cooling systems
  

The fine print:‍

• Currently you can not purchase an Arc boat as their initial production run of their flagship boat known as Arc One sold out
  
• Arc boat’s can currently only be operated in freshwater