Arc Raises $70 Million to Move Beyond $300,000 Electric Boat (1)

Arc Boat Co. raised $70 million from investors to move beyond high-end electric boats and expand its operations toward electrifying more of the marine industry.

The Series B round was led by Eclipse, a firm focused on real-world startups, and included existing investors Andreessen Horowitz, Lowercarbon Capital and Abstract Ventures, as well as new backer Menlo Ventures, Arc said Wednesday in a statement.

WATCH: Arc Boat wants to make more affordable electric boats.

Source: Bloomberg

Los Angeles-based Arc had been making and selling a limited number of $300,000 battery-electric boats called Arc One, but sold out. The battery pack in that model is about twice the size of that in a ...