March 6, 2021

Seattle’s Pure Watercraft raises additional $ 14M to power its plans for electric boat motors

A Pure Watercraft engine as seen on the back of a rigid inflatable in Seattle. (Pure Watercraft Photo)

Pure Watercraft, the Seattle-based makers of an electric outboard motor system designed to revolutionize recreational boating, has added $ 14 million in additional funding to a round that was initially announced in September.

When GeekWire puts this fall with founder and CEO Andy Rebele for a boat ride at the company’s Lake Union headquarters, Pure had pulled in $ 23.4 million. But a new Securities and Exchange Commission filing posted Wednesday shows that the company has raised a total of $ 37.5 million in the Series A round.

The 9-year-old startup is working to scale its operations and move to general availability of a motor and lithium ion battery combination that would replace traditional gas-powered outboards.

The funding was led by L37 Ventures, a San Francisco venture capital firm, and Pure Watercraft counts Amazon Worldwide Consumer CEO Jeff Wilke as an investor.

Rebel said in September that the first production units, which have been available for pre-order for years, will be out in the first part of 2021, priced at $ 6,000 for the motor, $ 8,500 for the battery and $ 2,000 for a charger.