Arc Raises $70 Million to Build the Tesla of Boats

Arc Boat Co. raised $70 million from investors to move beyond high-end electric boats and expand its operations toward electrifying more of the marine industry.

The Series B round was led by Eclipse, a firm focused on real-world startups, and included existing investors Andreessen Horowitz, Lowercarbon Capital and Abstract Ventures, as well as new backer Menlo Ventures, Arc said Wednesday in a statement.