Arc Boat Co. (Arc) is an American electric boat startup based in Los Angeles. It has received multiple rounds of funding totalling more than US$100 million[1] from venture capital firms Andreessen Horowitz and Lowcarbon Capital[2][3] and investments from Will Smith and Kevin Durant. It has released two fully electric boats since its founding in 2021, the Arc One and the Arc Sport.
| Industry | Boat building |
|---|---|
| Founded | 2021 |
| Founders | Mitch Lee, Ryan Cook |
| Headquarters | Los Angeles , United States |
Key people | Mitch Lee (CEO), Ryan Cook (CTO) |
| Products | Arc One, Arc Sport |
| Website | arcboats |
Background
editArc was cofounded in 2021 by Mitch Lee, who serves as its chief executive, and Ryan Cook, who serves as its Chief Technology Officer as Arc Boat Co.[4] Cook had previously worked at SpaceX as a lead engineer.[5][6] In October 2021, the company raised an undisclosed sum in a closed seed from investors including venture capital firm Andreessen Horowitz, Will Smith, Kevin Durant, and Sean Combs.[7] The next month, the company raised an additional US$30 million from both new and returning investors, including Smith, Durant, and Combs.[8]
Products
editArc has released two fully electric boats since its founding in 2021.[5]
Arc One
editA 24-foot fully electric boat, the Arc One became available for order in late 2021 at $US300 thousand, with delivery starting during the spring of 2022. Powered by 200kwh battery packs, it was capable of staying on the water for five hours.[5] The Arc One has a 12 person capacity and has 500 horsepower.[9][10] Its design was considered "elegant" by The Verge's transportation editor Andrew Hawkins.[11]
Arc Sport
editArc's second fully electric boat, the Arc Sport was debuted in February 2024.[12]
References
edit- ^ Korosec, Kirsten (2023-09-27). "EV boat startup Arc wades into watersports with $70M in fresh funding". TechCrunch. Retrieved 2024-07-15.
- ^ Hawkins, Andrew J. (2024-02-20). "Electric boat startup Arc expands lineup with new plug-in sports boat". The Verge. Retrieved 2024-07-15.
- ^ Sriram, Akash (2024-02-20). "Will Smith-backed Arc launches mass-market electric sport boat for $258,000". Reuters. Retrieved 2024-07-15.
- ^ Ludlow, Edward (2023-09-27). "Arc Raises $70 Million to Build the Tesla of Boats". Bloomberg. Retrieved 2024-07-15.
- ^ a b c Ohnsman, Alan. "This Celebrity-Backed Electric Boat Upstart With SpaceX, Tesla Roots Hauls In $30 Million". Forbes. Retrieved 2024-07-15.
- ^ Wilson, Mark (June 9, 2022). "Inside the design of the $300,000 Arc One electric boat". Fast Company. Retrieved July 15, 2024.
- ^ Korosec, Kirsten (2021-10-29). "Will Smith, Kevin Durant and Sean 'Diddy' Combs invest in electric boat startup Arc". TechCrunch. Retrieved 2024-07-15.
- ^ O'Kane, Sean (2021-11-23). "Arc raises $30 million to power its electric boat ambitions". The Verge. Retrieved 2024-07-15.
- ^ Orrall, Jesse (November 12, 2023). "Test-Driving the 100% Electric Arc One Speedboat". CNET. Retrieved 2024-07-15.
- ^ DeMuro, Rich (December 13, 2023). "Tesla-inspired speedboat is fast with no fumes". KTLA5. Retrieved July 15, 2024.
- ^ Hawkins, Andrew J. (2022-03-03). "The Arc One is an electric boat with a battery pack three times the size of Tesla's". The Verge. Retrieved 2024-07-15.
- ^ Kolodny, Lora (2024-02-21). "EV boat maker Arc debuts a premium wake sport model for $258,000". CNBC. Retrieved 2024-07-15.