X Shore Raises €15M in Funding
Summary
Valued at $90m pre-round, the round was led by Team Europe, a technology holding company from the mobility and clean energy-focused European entrepreneur, investor and Delivery Hero founder Lukasz Gadowski, alongside other individuals including Navin Thukkaram, U.S.-based investor, entrepreneur and founder and CEO of Innovation Bootcamp, and Marec Gasiun, Head of Automotive Business Development at Google. Led by Jenny Keisu, CEO, X Shore officially launched its Eelex 8000 electric boat in the United States last month, offering an actionable solution to the pollution of the traditional boating industry through three pillars: design, technology, and sustainability. Following the launch in the United States, X Shore plans to utilise this financing to expand production and industrialise, opening a second factory in the Stockholm region of Sweden. X Shore will continue software development of future features, including auto-docking, a first step towards autonomous driving. The capital raised will also fund a local U.S. team to help with distribution of the Eelex 8000 across the country, as X Shore has eyes set on forming an assembly line in the United States in 2022.