ExploMar secures over $10 million in new financing for global expansion
Chinese outboard manufacturer ExploMar has raised more than USD $10 million in new financing, marking a significant milestone in the company’s international growth. The round was led by private equity investors and a listed company in China, with continued backing from existing shareholder DCM Ventures.
The funding comes after a period of strong market progress for ExploMar, driven by adoption of its medium- and high-power electric outboard systems across commercial and leisure applications in multiple regions. Over the past year, the company’s Wave series outboards have been deployed and tested in Europe, Asia, Africa, and South America, with the company reporting consistent performance and reliability in diverse operating conditions.
The new investment will support the expansion of ExploMar’s global distribution and service network, development of its supply chain, and ongoing product refinement as the company prepares for broader adoption of high-power electric propulsion.
“Securing this level of investment reflects the confidence our partners have in technology that has already proven itself in the field,” says Alex Dong, CEO of ExploMar. “Our systems have been tested in demanding environments around the world, and this financing allows us to strengthen our global support network and continue improving the performance and practicality of electric propulsion for a wide range of vessels.”
ExploMar has just showcased at Metstrade
Founded in 2021, ExploMar specialises in medium- to high-power electric propulsion and integrated energy solutions. Its Wave 300, Wave 150+, and Wave 70+ outboards, paired with SI battery systems, deliver strong power, quiet operation, and low maintenance. The Wave 300, the flagship model, has been widely adopted for high-performance applications and has competed in international trials, including the Monaco Energy Boat Challenge.
ExploMar continues a test-driven development approach, operating multiple prototype vessels to validate performance, handling, and durability across varying conditions. With global interest in electric marine transport on the rise, the company aims to accelerate the transition to cleaner propulsion by working closely with distribution partners and commercial operators.
