News

April 4, 2023

Electric boat startup X Shore raises €27m to reach profitability

X Shore is part of the electrification movement in Sweden


Mimi Billing

3 min read

Swedish EV startup X Shore, which creates electric-powered boats, is today announcing a €26.5m raise led by the investment arm of Swedish Bank SEB. It says the cash will be used to continue to scale its in-house boat production and accelerate growth in the US.

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Picture of X Shore's more affordable electric motor boat.
X Shore's boats cost a third of other similar electric vessels, the company says
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Mimi Billing

Mimi Billing is Sifted's Europe editor, based in Stockholm. She covers the Nordics and can be found on X and LinkedIn

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