Stockholm-based X Shore, known as the “Tesla of electric boats,” has raised €8.5 million in a recent funding round, adding to the €26.5 million raised last year. This round saw participation from several existing major shareholders, including the company’s founder, Konrad Bergström.
X Shore continues to push the boundaries in the electric boat market with its commitment to sustainability and cutting-edge technology. The funds will be directed towards accelerating product research and development, enhancing sales and marketing strategies, and planning the development of new models. These efforts aim to solidify the company’s position as a leader in the electric maritime industry.
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Focus on Environmental Impact
X Shore’s operations focus on producing boats that do not use fossil fuels and have minimal impact on marine wildlife. The company’s boats are almost silent, easy to maintain, and produce zero exhaust emissions. By providing an eco-friendly alternative to traditional boating, X Shore is leading the charge towards a more sustainable future in maritime activities.
Innovations and Market Growth
The company has already made significant strides with the launch of X Shore 1 in September 2022. This model stands out for its affordability and high performance, featuring a 125 kW motor and a 125 kWh battery, capable of reaching speeds over 30 knots. These specifications align with X Shore’s commitment to combining environmental sustainability with luxury and performance.
Strategic Leadership and Vision
Under the new leadership of CEO René Hansen, X Shore has refocused its vision and strategic direction to better align with its founding principles of Nordic innovation and sustainability. The company’s significant support from the maritime and tech industries highlights its potential and commitment to transforming the boating industry.
With the continuous backing of its investors and a clear vision for the future, the startup is poised to further enhance its product offerings and expand its market presence, driving the shift towards electric solutions in the maritime industry.
