Los Angeles startup Arc Boat Company wants to expand its nascent commercial business and even sell electric propulsion systems to defense contractors, in an attempt to fulfill founder Mitch Lee’s desire to “electrify everything on the water.”
To do that, Arc has raised $50 million in a Series C funding round from Eclipse, a16z, Menlo Ventures, Lowercarbon Capital, Necessary Ventures, and Offline Ventures.
Originally reported by TechCrunch
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