Swedish electric boat manufacturer X Shore has closed a SEK 50 million financing round – approximately €4.5 milllion – completed with the support of both existing and new investors.
The company says it underscores the belief in X Shore’s mission, team and long-term growth strategy.
“In today’s challenging market, this is more than just funding,” said a company spokesperson.
“It’s a strong signal of belief in our mission, our technology, and the team driving the shift toward sustainable marine mobility, for both professional and leisure use.
“With one of the most advanced electric boat production facilities in the world, we’re delivering real change by reducing emissions, noise, and operational costs for operators across the board.
Electric boating
“Huge thanks to everyone who’s part of this journey. The future of boating is electric, and we’re proud to be leading the charge.”
X Shore, founded in 2016, serves both the recreational and professional markets with three main boat models, the X Shore 1, Eelex 8000 and X Shore Pro, delivered across Europe, North America, and the APAC region.
The company’s X Shore1 Bowrider is the latest model to be released at the end of 2024 and incorporates an open transom and swim platform, deck space with a central passage and flexible seating and a retractable sun awning.
“Our mission is to make boating one with nature by advancing sustainable performance, seamless technology, and functional design,” added René.
Environmental integrity
The company’s facility is capable of building up to 900 boats per year with consistent quality, traceability, and environmental integrity.
Vator Securities acted as sole financial advisor during the latest funding round.
“This is a meaningful milestone for X Shore,” concluded CEO René Hansen.
“In a difficult market, we’ve shown we can move forward with focus and resilience. We’re grateful for the trust our investors have shown, and more confident than ever in the opportunity ahead.”
X Shore’s previous funding round was in 2024 when the company raised €8.5 million.
