Stockholm-based modular electric boat brand X Shore has raised €15 million to propel production and industrialisation.
The raise was led by Delivery Hero founder Lukasz Gadowski’s Team Europe holding company and saw participation from individual investors including Navin Thukkaram, founder and CEO of Innovation Bootcamp, and Marec Gasiun, former Head of Automotive Business Development at Google.
“X Shore is a perfect partner for our multi-modal electro mobility approach”, says Gadowski. “Our common aim is to create a global leader and a large independent company in the boat industry which attracts customers and talents worldwide.”
Founded in 2016, X Shore officially launched its flagship offering, the Eelex 8000 in the U.S. last month, hoping to revolutionise the boating industry through three pillars: design, technology, and sustainability.
The Eelex 8000 uses cork and recycled plastics instead of teak, as well as an optional Flax fibre instead of traditional fiberglass or carbon fibre hull materials. Captialising on a modular design, the watercraft can be further tailored to suit owners’ needs and activities.
With the funding X Shore will continue its development of additional technologies including auto-docking, an important first step in autonomous boating.
“This funding affords X Shore the ability to take U.S. boating electric, something that very few in the industry have been able to do on a large scale,” comments X Shore CEO Jenny Keisu. “With interests in sustainability and e-mobility increasing in the United States, and worldwide, these investments will allow us to scale our production to keep up with the demand and drive change in the marine industry.”
One can only wonder if X Shore and Nanom are already in talks. 🤔