Swedish electric boat startup X Shore secures €8.5 million for sustainable nautical innovation
The X Shore 1. Image credit: Press picture.
Swedish tech startup X Shore, a pioneer in the electric boat sector, announced it has secured €8.5 million in funding from existing major shareholders, including founder Konrad Bergström.
Product innovation (R&D), marketing, and creating new models are the designated areas where the company will invest the funds.
Amidst recent market difficulties, X Shore continues to prioritize its commitment to profitability while staying true to its mission of revolutionizing the boating industry through environmental stewardship and technological innovation.
With this recent investment, X Shore continues its mission to create electric boats for a fossil-free future.
This announcement comes a year after they have raised €26.5M funding in a round led by SEB Investment Management AB.
Electric boat supplies have made X Shore the foremost company globally.
Electric boats by X Shore
Founded in Stockholm in 2016, X Shore has become one of the world’s leading supplier of electric boats.
Electric boats manufactured by X Shore, renowned for their Swedish heritage in maritime industry, technological advancements, inventiveness, and eco-friendliness, have a minimal footprint in aquatic ecosystems.
Quiet, simple upkeep, and pollution-free are attributes of the company’s electric watercraft.
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The Eelex 8000 by X Shore, their top-tier model, has been presented with several prestigious design titles like the German Design Awards, European Powerboat of the Year, and Best of Boats Award.
The company’s latest model, X Shore 1, offers a more affordable price point while maintaining high engineering and design standards.
With funding requirements already met for its factory, X Shore Industries 1, this fresh investment will be used exclusively for product development and growth initiatives.
The Swedish tech startup stands out as a trailblazer in the global electric boat sector due to its unwavering commitment to environmental stewardship and groundbreaking innovations.
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