There will soon be an 'Arc' to escape on. Not the Biblical vessel you're envisioning, mind you, but a luxury dayboat for escaping the mainland to enjoy a quiet day on the water with family and friends.
The celebrity-backed Arc One has been water tested (no word yet if it holds two of every animal, but here's hoping) and now additional funding is in place for its push into the mainstream.
The uniquely shaped runabout already has an impressive list of celebrity backers that include actor Will Smith, NBA star Kevin Durant, and rapper Sean 'P Diddy' Combs, among others. It also has some serious non-financial backing, too. Arc's initial round of funding was led by Greg Reichow, the former VP of production at Tesla, and the company itself is cofounded by Mitch Lee and Ryan Cook, both former engineers at SpaceX.
Suffice to say, The Arc is neither short on technical expertise nor monetary support. Last week, the company announced the closing of another round of funding worth $70 million USD. The deal was helped by the addition of a new venture capital firm -- Menlo Ventures -- which is led by boating and outdoor enthusiast Shawn Carolan.
The VC specialist has an impressive resume as an early-stage investor which includes working with several 'software architecture' start-ups. Carolan also has made some key (and likely extremely successful) investments in companies like Uber, Roku, and OpenSpace, among others.
As for the Arc, it appears Carolan will help push the emerging electric boat company into the public consciousness. The company's primary product, the Arc One, is already available to order and is being positioned as a forerunner to capture the electric boat market.
According to the company's press release, the additional $70 million in funding is intended "to target the booming watersports market."
There's no word yet on what that may entail, but Arc has previously claimed the Arc One is capable of towing passengers for wakesports. Given the company's incredible technical prowess, it stands to reason they are developing their electric motor technology to increase the thrust/torque needed for watersports. The ability to market the Arc One to both recreational boaters and watersports enthusiasts would only help to increase its viability to a larger market.
Other standout features of the Arc One that place it apart from its peers include structurally integrated batteries and over-the-air software updates. In essence, rather than having a battery bank that eats up significant storage space, the Arc One's batteries are built right into the superstructure between the exterior hull and floor. Over-the-air software updates mean the boat can continually be monitored and have its software upgraded over time without requiring a visit to a marina or dealer.
As for the boat itself, Arc One is a 24' runabout that carries a large 220 kWh battery bank and produces upwards of 500 hp. The Tesla Model Y, for reference, uses only a 75 kWh battery (and pushes 480 hp while weighing 4080 lbs). The Arc's large batteries are is expected to yield a runtime up to about 5 hours without recharge. The Arc One carried a top speed over 40 mph (32 knots) in testing, which would put it on par with many traditional gas-powered boats of similar size and style.
With significant resources to market the Arc One publicly in 2024, and with indications of an increase in power technology, the company also announced they will be offering a new model in 2024.
The company is also hiring across all departments if you like the idea of escaping the mainland. You can see the Arc One's maiden voyage in the video below:
