Arksen raises funds
Arksen has launched a public investment round, raising £6m in Series A capital to accelerate its expansion.
04 April 2024
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Adventure yacht builder Arksen has launched its first public investment round. The firm is raising £6m Series A capital from institutional and retail investors.
The British company was founded in 2018 by entrepreneur Jasper Smith.
Initially rooted around its core marine offering, the firm now has three business pillars — marine, automotive and apparel. Arksen reported revenues of £18.5m in the last 18 months of operations, with a forward sales pipeline of over £156m.
The company reports sales of 21 of its luxury explorer boats to date. The company has a $1.37tn total addressable market set to reach $2.3tn within the luxury travel market by 2030, according to a market intelligence report by Grand View Research.
Proceeds from the equity funding will accelerate Arksen’s marketing and geographic expansion, provide working capital for expanded product development, and increase stock levels to support rapid dealer growth.
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The company is seeking margin enhancement through more sophisticated customer acquisition technologies and greater direct channel presence, while the US and Asia remain key markets for development.
Higher operational expenditure and larger teams will enhance new product evolution, and Arksen will begin to hold a limited stock of products for immediate sale instead of making vessels to order.
“The adventure industry, and more particularly, the marine sector, is going through a profound change — driven by emerging technologies and the necessity to adopt a circular economy,” says Arksen chief executive Jasper Smith.
“We are proud to be pioneering these positive changes, building a company united on a mission to create class-leading products and enabling our community to help own part of that future.”
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