Swedish X Shore secures €8.5 million in funding for electric boat innovation

X Shore, a Swedish company that creates fully electric, quiet, and connected boats, has secured €8.5 million in funding. This round saw significant participation from existing major shareholders, including the company’s founder, Konrad Bergström. The funding will be used to drive product innovation and development, enhance sales and marketing efforts, and explore new models for the future. Since its establishment in 2016 in Stockholm, X Shore has become a prominent player in the global electric boat market, catering to customers across North America and Europe. The company’s boats are renowned for their sustainability, operating without fossil fuels and causing minimal disturbance to marine life.

X Shore manufactures electric boats with a focus on sustainability and innovation. Founded in 2016, the company aims to revolutionize the maritime industry by offering high-end, eco-friendly boats that operate silently and without the use of fossil fuels. X Shore’s mission is to redefine mobility on the water while respecting the environment and promoting long-term sustainability. The company’s boats are designed with smart technology and sustainable materials, reflecting a commitment to reducing the environmental impact of boating. Through their work, X Shore seeks to contribute to a cleaner and more sustainable future for marine transportation.

Konrad Bergström, founder and investor, says, “X Shore is a globally-recognised Swedish brand with significant support from the maritime and tech industries and everyone concerned with sustainability. Goodwill from the sector has remained consistent in spite of recent challenges experienced by the company which have risked X Shore losing focus of its founding vision.

Our new CEO René Hansen has already put X Shore firmly back on course, and achieved remarkable things in a short period. Having not been operationally involved with X Shore for several years, I am proud to be back and playing a part in ensuring that Nordic innovation is charging the shoreline shift to electric.”

X Shore CEO René Hansen states, “As the CEO of X Shore, I am deeply gratified by the steadfast support of our investors and partners. Our journey is charged by a fusion of cutting-edge technology, functional design, and a steadfast commitment to sustainable performance. Our shareholders unwavering support since assuming my role has been instrumental, and we’re thrilled to deepen our collaboration with our visionary founder, Konrad Bergström.

With this influx of funding, we’re poised to propel our sales forward and reframe the global narrative of our industry, infusing every innovation with the essence of our mission: to make boating one with nature with unrivalled technology, functional design, and an unwavering dedication to sustainable excellence.”

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