- Swedish company Zparq has successfully raised 60 million SEK (approximately 5.6 million USD) to enhance its development of an ultra-compact electric outboard motor, touted as the world’s lightest 10 kW outboard. The funding round attracted significant attention, with Zparq being one of only 40 companies selected from a pool of 1,000 applicants, showcasing the competitive nature of the marine technology sector.
- The capital infusion will allow Zparq to further refine its innovative product, which aims to revolutionize the boating experience by providing an environmentally friendly alternative to traditional combustion engines. With a focus on efficiency and minimal weight, Zparq’s electric outboard motor is designed for both recreational and commercial use, appealing to a broad range of maritime customers.
- Zparq’s commitment to sustainability and advanced engineering has garnered interest from various stakeholders in the maritime industry. The company plans to leverage this investment to expand its market presence and accelerate the launch of its products, reinforcing its position as a leader in the electric marine propulsion sector.
Source: Swedish Tech News
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