Andreessen-Backed Startup to Sell $300,000 Electric Boats

Arc, a startup with a deep bench of former SpaceX employees, is entering the fledgling market for electric boats with a $300,000, 475-horsepower pleasure craft.

The Los Angeles-based company plans to have its first model, a sleek speed boat called the Arc One, ready for sale by the end of 2021, after which the company hopes to manufacture limited editions of the craft. Backed by Andreessen Horowitz with participation from Chris Sacca’s Lowercarbon Capital fund, the company has raised $4.25 million in seed funding.

Chief Executive Officer Mitch Lee founded the Arc Boat Co. with his college friend Ryan Cook, ...