ExploMar secures over USD 10 million in new financing to support global expansion
ExploMar has secured more than USD 10 million in new financing, marking an important step in the company’s international growth. The round was led by private equity investors and a listed company in China, with continued support from existing shareholder DCM Ventures.
The investment follows a period of strong progress for ExploMar, driven by the uptake of its medium- and high-power electric outboard systems in real-world commercial and leisure applications across multiple regions. Over the past year, the company’s WAVE series outboards have been deployed and tested in Europe, Asia, Africa and South America, demonstrating consistent performance and reliability in varied operating conditions.
The funds will support the expansion of ExploMar’s global distribution and service network, further development of its supply chain and ongoing product refinement as the company prepares for wider 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.”
Founded in 2021, ExploMar focuses on medium- to high-power electric propulsion and integrated energy solutions. The WAVE 300, WAVE 150+ and WAVE 70+ outboards, together with the company’s SI battery systems, are designed to offer strong power delivery, quiet operation and low maintenance. The WAVE 300, its flagship model in the range, has been widely adopted for high-performance applications and has competed in international trials, including the Monaco Energy Boat Challenge.
ExploMar continues to follow a test-driven development approach, operating multiple prototype vessels to validate performance, handling and durability across diverse conditions.
As interest in electric marine transport increases globally, the company aims to accelerate the transition to cleaner propulsion by working closely with distribution partners and commercial operators.
