Los Angeles-based
Arc has raised a total of $160 million since it was founded by veterans of Rivian Automotive Holdings Inc., SpaceX and Tesla Inc. in 2021. Investors in the latest round included Eclipise Ventures, a16z, Menlo Ventures, Lowercarbon Capital, Necessary Ventures and Offline Ventures.
“It further reinforces that the electrification of the maritime industry is a real thing and there’s strong demand,” said Greg Reichow, a general partner at Eclipse Ventures, which participated in Arc’s new Series C round with ...