Diddy’s Combs Enterprises, Will Smith’s Dreamers VC and Kevin Durant’s Thirty Five Ventures have joined forces for Arc’s “all-star team of new strategic investors.”
According to Yahoo, Diddy, Will Smith and Kevin Durant went on board up to raise $30 million investment for futuristic electric speedboats. Greg Reichow, the man behind Tesla’s early manufacturing, supply chain and automation efforts, has also hopped the board. He also invested a large lump of sum in the company.
The flagship speedboat Arc One is described as “a Tesla of the high seas”. It would cost over $300,000. The 24-foot vehicle features an electric powertrain and the ability to run between 3 to 5 hours on one charge. A recent statement made by Arc said:
“Along with being world class in their respective fields, these individuals bring a wealth of experience in building brands, marketing products and cultivating strong communities. Together, they’ll help Arc execute faster and amplify our impact.”
The speedboat is inspired by aerospace design. Its co-founder, Ryan Cook and other employees have previously worked as engineers for Elon Musk’s SpaceX. Diddy, Will Smith and Kevin Durant will represent the front and center of Arc’s wealthy target audience.
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