ExploMar has closed a Series A financing round exceeding $10 million as the Shanghai-based electric marine propulsion company accelerates its global footprint and advances its high-performance technology portfolio. The round was jointly led by prominent private equity funds and a publicly listed Chinese company, with existing backer DCM Ventures also participating.
The company plans to use the capital to expand its global distribution and service network, strengthen its supply chain, and further enhance its product lineup as demand for sustainable marine transportation solutions increases. Electrification of water mobility continues to gain momentum as governments, consumers, and commercial operators prioritize cleaner alternatives. Traditional speedboats are among the most polluting forms of public transportation due to high emissions per trip, and early electric outboard options historically lacked the power density required for high-performance applications.
Founded in 2021, ExploMar has positioned itself to fill this gap by focusing on medium to high-power electric propulsion systems and integrated energy solutions. Over the past year, the company has shipped its systems to customers across Europe, Asia, Africa, and South America, while establishing distribution channels in more than 20 countries and regions, including China, Norway, Italy, Nigeria, Indonesia, Singapore, and Thailand.
The company’s WAVE series has emerged as its flagship product family, featuring high-performance electric outboard systems such as the WAVE 300, WAVE 150+, and WAVE 70+. These systems are complemented by the 5S Energy Station, which integrates solar generation, energy storage, and fast charging capabilities. ExploMar’s technology combines intelligent control, high performance, zero emissions, and low maintenance, supported by more than 100 patents. The WAVE 300 serves as a cornerstone of the company’s innovation, weighing 218 kilograms for a 25-inch shaft model while delivering 655 N•m of maximum torque.
To drive continuous advancements, ExploMar employs a test-driven development framework and has created multiple prototype electric vessels, including RIBs, bass boats, and patrol boats. These platforms allow the company to validate system performance under a wide range of operating conditions, including extreme-environment stress tests. In 2025, the WAVE 300 powered a client’s carbon RIB in the Monaco Energy Boat Challenge, achieving notable results and reinforcing ExploMar’s ability to compete at the highest performance levels.
With global efforts to reduce emissions accelerating and clean-energy technologies advancing rapidly, the company believes the marine sector is at a defining moment in its shift toward electrification. ExploMar aims to play a central role in this transition through continued innovation and strategic international expansion.
