REGENT Craft Analysis: $9M Raised
What is REGENT Craft?
REGENT builds all-electric Seaglider vessels for coastal transportation. Its Viceroy craft uses wing-in-ground-effect flight just above the water, then transitions to foiling and floating modes. The company says the vehicle can serve routes up to 180 miles with current batteries and more than 400 miles with next-generation batteries.
Location
200 Callahan Rd, North Kingstown, Rhode Island, 02852, United States
Employees
51-200
Founded
2020
Revenue
$25-100M
Product Features & Capabilities
- All-electric seagliders, fast coastal transportation, zero emissions, designed for everyday travelers and commuters, bypass congested highways, sustainable battery electric power, operates over water on hull, hydrofoils, or wings, Viceroy model with 12 passenger capacity and 160 nautical mile range.
How much REGENT Craft raised
1: - $9 million
April 2021Lead Investor: Not specified in the source.
Who are the founders of REGENT Craft
BT
MK
Mike Klinker
CTO
Business Model
Revenue from seaglider sales and strategic partnerships with airlines and ferry operators.
Competitors Overview
REGENT Craft operates in the electric maritime transportation sector, specifically focusing on all-electric seagliders for coastal transportation. Its main competitors include:
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SWITCH Maritime: This company focuses on developing electric vessels and aims to reduce emissions in maritime transport. Their advantage lies in their experience with hybrid and electric technologies, which may offer a broader range of applications compared to REGENT's specific focus on seagliders.
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Pure Watercraft: Known for electric outboard motors, Pure Watercraft is expanding into electric boats. Their advantage is in established technology for electric propulsion, which could be adapted for various marine applications, including potential partnerships for seaglider technology.
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Arc Boat: This company is developing electric boats designed for urban waterways. Their focus on urban transport solutions may provide a competitive edge in densely populated areas, where REGENT's coastal focus might be less applicable.
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African Cats: While primarily focused on luxury and leisure vessels, they are exploring electric options, which could appeal to a different market segment compared to REGENT's transportation focus.
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Regal Maritime Solutions: This company offers various maritime solutions, including electric vessels. Their broader service offerings may attract a diverse clientele, providing them with a competitive advantage in the maritime industry.
Notable differences include REGENT's unique design of seagliders that utilize wing-in-ground effect technology, allowing for faster and more efficient travel over water compared to traditional ferries and boats. Additionally, REGENT emphasizes zero emissions, which aligns with growing environmental concerns in transportation.
Investors
- Founders Fund
- Y Combinator
- Hawaiian Airlines
- Thiel Capital
- JAM Fund
- Mesa Air Group
- Toba Capital
- Olive Tree Capital
- Mitsui O.S.K. Lines (MOL)
- H.I.S.
- Japan Airlines
- Lockheed Martin
Market Focus
REGENT Craft primarily focuses on the transportation industry, specifically developing and manufacturing all-electric seagliders for coastal transportation with zero emissions.
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