Adventure company Arksen has launched its first public investment round with the aim of raising £6m capital.
The company was founded in 2018 by Jasper Smith, whose vision is to create a global adventure brand, engineering its products using the principles of a circular economy.
Arksen has developed three key complementary business sectors – Marine, Automotive and Apparel, with reported revenues of £18.5m in the last 18 months of operations and a forward sales pipeline of more than £156m.
The company has sold 21 of its explorer boats to date and says that according to market research it has a $1.37tn total addressable market that is set to reach $2.3tn within the luxury travel market by 2030.
Proceeds from the equity funding will be used to accelerate marketing and geographic expansion, for working capital for expanded product development and to increase stock levels to support rapid dealer growth.
Technologies
The company is seeking margin enhancement through more sophisticated customer acquisition technologies and greater direct channel presence and sees the US and Asia as key target markets.
Arksen will continue with its new product evolution and will begin to hold a limited stock of products for immediate sale instead of making vessels to order.
“The adventure industry, and more particularly, the marine sector is going through a profound change – driven by emerging technologies and the necessity to adopt a circular economy,” said Jasper. “We are proud to be pioneering these positive changes, building a company united on a mission to create class leading products, and enabling our community to help own part of that future.”
Arksen has offices in London, Southampton and Vancouver, Canada together with dealers on the east and west coast of the US, across Europe and in the UK.
The idea for Arksen stems from 2017 with the first vessel launch in 2019 at the Düsseldorf boat show.
