What is X Shore?
Founded in 2016 and headquartered in Nyköping, Sweden, X Shore is at the forefront of sustainable marine technology. The company specializes in the design and manufacturing of high-performance, fully electric yacht tenders. By focusing on eco-friendly propulsion and advanced design, X Shore aims to provide a premium boating experience with a minimal environmental footprint. Their product line caters to a discerning clientele seeking both luxury and sustainability in their maritime pursuits, positioning them as a key player in the transition towards greener watercraft.
How much funding has X Shore raised?
X Shore has raised a total of $111.6M across 5 funding rounds:
Other Financing Round
$5.6M
Other Financing Round
$17.8M
Unspecified
$50M
Other Financing Round
$29M
Other Financing Round
$9.2M
Other Financing Round (2020): $5.6M with participation from Peter Dahlberg
Other Financing Round (2021): $17.8M led by Marec Gasiun, Team Europe, and Navin Thukkaram
Unspecified (2022): $50M supported by Peter Carlsson
Other Financing Round (2023): $29M featuring SEB Investment Management
Other Financing Round (2024): $9.2M, investors not publicly disclosed
Key Investors in X Shore
Team Europe
TEAM GLOBAL MANAGEMENT GmbH is dedicated to creating organizations, products, and services that generate significant societal value through technology. The company focuses on air mobility solutions, aiming to replace traditional cars with flying taxis and scooters, while also investing in climate solutions and education.
SEB Investment Management
SEB Investment Management is a financial institution that likely provides capital for growth and expansion, focusing on established companies within various sectors.
Marec Gasiun
Marec Gasiun is an individual investor who has participated in funding rounds, indicating a belief in the company's potential and a role in its financial backing.
What's next for X Shore?
With the recent strategic investment and a substantial overall capital base of $111.6M, X Shore is poised for an accelerated phase of development and market expansion. The company is expected to leverage this financing to enhance its production capabilities, further refine its electric boat technology, and broaden its global distribution network. Future endeavors will likely focus on scaling operations to meet increasing demand for sustainable maritime solutions and solidifying its position as a leader in the electric yacht tender market. This strategic capital infusion signals a commitment to innovation and a clear path towards achieving significant milestones in the coming years.
See full X Shore company page
