Seattle-based e-propulsion company Pure Watercraft announced that it secured $37.5 million in Series A funding that will allow it to expand its offerings.
“Investors and consumers alike appreciate electric boating innovation like never before,” CEO Andy Rebele said in a statement. “This investment will help us grow our team and deliver game-changing products … to meet growing demand.”
The funding round was led by venture capital and private equity firm L37. Managing partner Randall Ussery will join Pure Watercraft’s board of directors.
“We are inspired by Pure Watercraft's vision for the future of electric boating and their progress redefining the entire customer experience, starting with the largest, most popular power class globally,” Ussery said. “We're thrilled to invest in a company whose significant innovations, capabilities and efficiency can also be applied in other powersports categories where electrification has lagged.”
Last year, Pure Watercraft teamed with Highfield RIBs to provide electric propulsion packages, and developed an electric Tracker bass boat and Sun Tracker pontoon.