Will Smith, Sean ‘Diddy’ Combs and others invest in Arc electric boats

Arc electric boats – the all-electric watersport boat being built by former SpaceX engineers – has announced that Will Smith’s Dreamers VC, NBA star Kevin Durant’s Thirty Five Ventures, and Sean “Diddy” Combs’ Combs Enterprises are among investors forming an “all-star team of new strategic partners”.

Arc says it is excited about the diversity that these investments bring to the table and that a diverse group of people and experiences are critical to Arc’s long-term success.

“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,” the company says. “It’s also far from the world that we live in today, where over 99 per cent of watercraft still run on fossil fuels, so we’re going to need a lot of support to make it happen.”

Along with being household names and leaders in their fields, Arc says its new investors each “bring a wealth of experience in building brands, marketing products, and cultivating strong communities” that will help Arc “execute faster and amplify our impact”.

Arc is a venture-backed startup based in Los Angeles, California, manufacturing and selling high-performance electric boats. The company is already testing its first prototype, the Arc One, despite having only been founded 11 months ago.

Main image courtesy of Plugboats.com