Italian startup closes €250k seed round to produce electric boats

Italian startup Navia Yachts has closed a €250,000 funding round to begin producing its electric inflatable boats. The firm says it plans to raise a second round of funding in Q1 2024 to begin production of the Navia 44, and to scale up production efforts.

Navia Yachts says it plans to provide a turn-key solution for boat rental companies to mitigate potentially high-cost setups and maintenance of electric boats in their fleets.

This comes initially through Navia’s electric inflatable boats, before the firm later expands into larger models (Navia 33, Navia 44 and Navia 55). The firm says it aims to increase the accessibility and supply of fully electric recreational boat fleets to existing and established rental companies, by providing inflatable boats on loan, a charging Wall Box for the boat slip, management software, maintenance, and 24/7 assistance.

At €500 a day, Navia says its rental model ‘enables businesses to immediately introduce electric boats into their company fleet, allowing customers to test the product and become familiar with alternative propulsion options.’

Navia’s inflatable boats are being produced in conjunction with Italian shipyard CNC. The Norwegian engine manufacturer Evoy will also provide 120 hp engines, with sea trials set to start in Q2 2023.

The first inflatable boat with the charging station will be based in Cala Galera marina, with future plans for expansion into Campania, Liguria, Sardinia, and then the rest of Italy.

“Currently, there is no adequate infrastructure to enable a customer to purchase an electric boat, which is why we want to position ourselves in the rental market,” says Navia co-founder and CEO Guglielmo La Via.

“People are still reluctant to buy electric boats, partly because of the significantly higher costs involved with [their] purchase. However, the market is curious, and our research shows that people would like to try an electric boat before buying. Through our unique B2B rental model, we can introduce our boats to a wider audience and accelerate electric adoption rates in the boating industry.”