Arc Raises $70M Led by Eclipse to Expand Electric Boats

Arc is focused on expanding its production of electric boats, aiming to electrify the marine industry. The company plans to use funds to develop a mass-market model and expand its Los Angeles footprint. Arc's strategy mirrors Tesla's approach, starting with limited editions to learn and scale. The marine industry, a multi-billion dollar sector, is ripe for electrification. Arc faces challenges in talent acquisition and supply chain management but is committed to building locally in the US, contributing to a new industrial renaissance.

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