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Evoy Announces New Round of Capital

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Electric inboard and outboard manufacturer Evoy said it has achieved a new round of funding totaling €7.3 million ($7.62 million). The capital includes follow-up funds from existing shareholders, plus a new influx from Klaveness Marine, Grieg Edge and Link VC.

Entrepreneurs Jakob Hatteland of Autostore, Petter Muren of Prox Dynamics, Johan Brand of Kahoot and Martin Anderlind of Northvolt also are participants.

“This is an incredibly important milestone in our path to make boating irresistible, eliminating emissions and building a great global brand,” Leif A. Stavøstrand, co-founder and CEO of Norway-based Evoy, said in a statement. “With the strongest electric motors for boats in the market, mixed with an unprecedented data-driven ecosystem connected 24/7, Evoy will now set a standard in the boating industry.”

Evoy said the funding will enable it to further develop its motor systems, strengthen marketing and sales, and optimize manufacturing and supply-chain capacity.

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