Surfing the Electric Sea Change: Evoy Raises €6,4M to Accel Electric Boating Worldwide
Evoy Secures €6.4 million in Funding Round lead by Axopar to accel Global Expansion in Performance Electric Boating.
Evoy, the leading provider of high-performance electric motor systems for boats, has successfully concluded a strategic bridge round, raising an impressive €6.4 million. This significant investment will accelerate Evoy towards its goal of becoming the go-to brand worldwide for high-performance electric boating, not only in Europe but also towards North America.
Axopar – the largest boatbuilder in the Nordics – joins Evoy, bringing substantial capital to a 10 % ownership, an extensive dealership network, expert boating knowledge, and significant orders, firstly over €1m euros to be delivered in 2023.
The funding round also saw strong participation from current shareholders, including notable investors such as Katapult Ocean, Klaveness Marine, and Grieg Edge, who strengthened their commitment and position with their investments. The EIC Fund, serving as a cornerstone investor, also continued its significant support with an €1m Euro equity investment.
Furthermore, the round gained support from renowned entrepreneurs including Jakob Hatteland (Autostore), Johan Brand (Kahoot) and Martin Anderlind (Northvolt).
Evoy’s relentless focus on high-output, long-range electric motor systems have already gained traction among customers, resulting in a surge in demand across Europe and beyond. The company’s facility in Florø, Norway, is buzzing with activity as deliveries are being made to customers to several locations worldwide this fall.
The funding round positions Evoy at the forefront of the rapidly growing electric boating market, expected to reach significant proportions by 2030. Moreover, with an increasing number of lakes banning the use of fossil fuels, Evoy’s sustainable electric boating solutions are poised to meet the evolving needs of environmentally conscious boaters.