Alloy is working towards building electric boats that are capable of autonomous driving according to a Dallas Morning News article. They say,
“Carmakers like Tesla brought semi-autonomous electric vehicles to the mainstream, and now a local company wants to do the same for recreational boating
Grapevine-based Alloy wants to build an electric boat that’s capable of avoiding other boats, docking and even driving itself from place to place under ideal conditions. The company has developed a software prototype and hopes to bring a product to the market in 2024.”
Alloy’s CEO and co-founder, Brandon Cotter, was reading about electric cars and realized that it was time to hop on that trend in the waters and subsequently organize a fundraising according to a NewsBreak article which reports,
“The company has a software prototype and wants to bring a product to the market in 2024. CEO Brandon Cotter worked on 11 other startups before co-founding Alloy. Cotter grew up on the water, and the idea for his product came to him as he was sitting in the back of his own boat. He had been reading about the car industry moving towards electric and self-driving cars, and he realized it was only a matter of time before someone jumped on the trend in the marine industry.
Cotter and Alloy is wrapping up a round of fundraising in Texas that netted the company $2.5 million dollars. The level of autonomy will depend on water conditions.”
Alloy hopes to raise $10 million by the end of the year, and they aim to bring a product out to the market by 2024.