ExploMar raises $15M Series A to scale electric marine propulsion abroad
What's the deal? ExploMarDealroom has a profile for this one. Try Dealroom →, a Chinese maker of high-performance electric boat propulsion systems, has raised US$13.8M in a Series A round. Delian CapitalDealroom has a profile for this one. Try Dealroom →, Changshu Guofa, and Suzhou Venture Group co-led, with 37 Interactive EntertainmentDealroom has a profile for this one. Try Dealroom → joining and existing backer DCM VenturesDealroom has a profile for this one. Try Dealroom → following on for its third consecutive round.
What does the company do? Founded in 2021, ExploMar builds electric outboard systems for boats, targeting the high-power segment long dominated by fuel-engine brands such as Mercury and YamahaDealroom has a profile for this one. Try Dealroom →. Its products span 70 to 1,200 horsepower, fit boats from 4m to 24m, and have shipped to more than 20 countries.
By the numbers: Overseas revenue grew 450% year on year in the first half of 2026, and confirmed orders on hand exceed US$13.8M. The company says it holds more than 100 patents and ranks among the top two globally in high-performance electric outboards by shipments since its commercial launch in 2025.
Where's the money going? ExploMar plans to strengthen its global sales network, open overseas electric-boat experience centres, and build out international service and parts centres. Founder Dong Jiang, who spent 14 years in China's new-energy vehicle industry, frames overseas expansion as the company's long-term moat.
Why now? Dong argues the economics of electric boating already work for commercial operators. He cites a Nigerian ferry deployment where a single 300-horsepower electric engine can generate "over $1 million" in economic value over a 10-year lifespan, with similar logic applied to projects in the Maldives, Chile, and Thailand.
What could go wrong? ExploMar competes against century-old fuel-engine giants converting to electric and against overseas electric startups. Dong concedes the marine sector has an "incompressible" timeline, requiring slow, physical build-out of local teams, parts warehouses, and centres in each region.
The signal: Investors are betting that boat electrification will follow the path already proven by electric vehicles. Delian Capital called it "a highly certain generational replacement," while DCM's Hurst Lin said new-energy boating sits "at the critical juncture from demonstration to large-scale replication." Dong expects price parity with fuel in high-performance boats within three to five years.
Read more: 36kr.com
Image credit: ExploMar
