Will Smith, Kevin Durant, Sean ‘Diddy’ Combs invest in Arc electric boats
A very exciting update to last week’s Plugboats article and Podcast about Arc electric boats – the all electric water sport boat being built by former SpaceX engineers. From the Arc site:
Today, we’re excited to announce an all-star team of new strategic partners who will help us make this vision a reality. Will Smith’s Dreamers VC, Kevin Durant and Rich Kleiman’s Thirty Five Ventures, and Sean “Diddy” Combs’ Combs Enterprises are among the investors that have joined us. We’ll have more to share about the other partners over time.
At Arc, we’re building toward a future where all boats on the water are electric. That future is more fun, more convenient, and better for our planet. It’s also far from the world that we live in today, where over 99% of watercraft still run on fossil fuels, so we’re going to need a lot of support to make it happen.
Along with being world class in their respective fields, these individuals bring a wealth of experience in building brands, marketing products, and cultivating strong communities. Together, they’ll help Arc execute faster and amplify our impact.
We’re also excited about the diversity that these investments bring to our cap table. We believe that a diverse group of people and experiences are critical to Arc’s long term success, and that these new partners will strengthen our team in that regard.
Congratulations to all!!