Voltaic Marine 🛥

Opening Remarks

I consistently come across a common thread running through some of the most impressive founders I know: how they handle rejection.

The best ones don’t take “no” as a dead end. They see it as a hurdle, not a wall—a challenge to clear, not a signal to stop. I believe this is a mindset shift any founder (or really anybody) can adopt.

I’ll be diving deeper into this in an upcoming LinkedIn post (follow me to catch it). In the meantime, if you’ve got a story about pushing through rejection, hit reply and let me know. Now, onto this week’s feature:

Bulletpitch’s publication covers the hottest early-stage startup before being picked up by larger media outlets. If that’s you, apply here.

Setting the Scene

• Demand for electric and drone boats is rising rapidly, but the marine industry is bottlenecked by battery technology and manufacturing capacity.

• Here’s why:

  • Battery Limitations: High-energy-density batteries designed specifically for boats are rare, forcing builders to compromise on performance and range.

  • Cost: Marine batteries are 2–7 times more expensive than automotive ones, making large-scale adoption difficult.

  • Shipbuilding Constraints: The U.S. faces severe limitations in shipbuilding capacity, driving a strategic shift toward unmanned surface vehicles.

• This week’s company offers dual-use, scalable battery technology and manufacturing capacity for the marine industry.

In a Sentence

Voltaic Marine is an electric battery and boat manufacturing company that scales consumer, commercial, and DoD demands in the marine industry.

• Electric Batteries: Voltaic Marine’s battery configurations offer adequate energy density to meet the performance demands of consumer, commercial, and DoD marine applications.

• Boat Manufacturing: Its vertically integrated manufacturing model—built on robotic automation and modular design—enables scalable production of electric boats for both dealerships and defense contracts.

The Basics

• Industry: EVs, Cleantech, Defensetech

• Headquarters: Michigan 

• Year Founded: 2023

• Employee Count: 15

• Investors: Antler, Michigan Economic Development Corporation, and Centrepolis Accelerator

• Amount Raised: $600k

• Business Model: Direct and dealers in consumer. Supplier to Prime’s in DoD.

• Early Traction: $350k initial sale, 2 direct pre-orders, Dealer LOIs (~20 units/year each), DoD ITAR certified

Sponsored Content*

IN PARTNERSHIP WITH

• Get 6 Months of Zendesk—Free for Startups

• Customer support is make-or-break in your early days. Zendesk gives you the tools to get it right from the start—with AI-powered support that helps you scale before you grow your team.

  • Automate responses and boost efficiency with Zendesk AI.

  • Track key support metrics to learn what’s working.

  • Deliver a world-class experience without the overhead.

• Join the Zendesk for Startups program today.

Weekly Feature Continued

Due Diligence

WHAT WE LIKE

• Shifting Toward Electric: The Marine Drone Market size was valued at USD 4.4B in 2023 and is projected to reach USD 15.4B by 2031, growing at a CAGR of 15.9% during the forecasted period.

• Defense Applications: By building for the recreational market first, Voltaic Marine is laying the foundation to scale into DoD contracts, massively expanding its TAM through drone boat deployments.

• Patented: Voltaic Marine’s utility-patented hull and modular battery system supports both long-range recreational boats and autonomous defense vessels.

POTENTIAL RISKS

• Long-Term Play: Voltaic’s defense opportunity is compelling but may take time to fully materialize—the company must navigate early-stage execution in the consumer market while balancing timelines and procurement cycles in DoD.

• Tariffs and Supply Chain: Global manufacturing and sourcing introduce risk amid ongoing geopolitical instability, particularly with tariffs and materials availability.

• Capital Intensity: As a hardware and manufacturing company, Voltaic Marine faces a CapEx-heavy path that will require sustained investor support and operational discipline to scale profitably.

Founder Profile

• Richard Phamdo, CEO: Previously led EV, AI, and Autonomous programs at Intel Automotive.

• Will Stewart, CTO: Previously drove advancements in engineering and product development at Intel, Kaiser Aluminum, and Schneider Electric.

• Jonathan Yin, CPO: Previously oversaw supply chain and product management at Texas Instruments, Tesla, and Cruise Automation.

• Cody Covey, COO: Previously director of parner engagment at Intel and sales manager at Zones.

Comps

• Arc Boats: Backed by Andreessen Horowitz, Eclipse Ventures, and others.

• Saronic: Backed by 8VC, Caffeinated Capital, Andreessen Horowitz, and others.

Event Board

• Tech Carnival NYC: On June 3rd, we’re bringing our famous Tech Carnival to NYC. A bigger announcement is coming soon—but early birds can sign up HERE.

• Founding GPs Dinner NYC: On June 5th, we’re co-hosting a curated and intimate dinner for founding GPs and emerging managers. A bigger announcement is coming soon—but early birds can sign up HERE.

Note: Spots are limited for dinners. If you apply and aren’t approved for a dinner, we will try to get you to a future event.

Cast Your Vote

Last Week Today

• The Results Are In: Journey, a loyalty platform for independent hotels and private rental homes, was favored in last week’s poll.

• Subscriber Feedback: “This addresses such an obvious gap in the market, incredible.”