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EAST LANSING, Mich. — Lilypad Labs, a Holland-based company dedicated to creating a carbon-free boating experience, has secured an investment from Michigan Rise Pre-Seed Fund III.
Lilypad Labs was created when its founders recognized a lack of carbon-free, sustainable boating options in the market. The company is redefining peaceful water recreation with “Lilypad,” a shareable solar boat. Using clean energy and renter-assist mobility technology, Lilypad brings people together with an accessible alternative boating experience that requires little to no boating expertise.
“The Lilypad team set out to address the carbon footprint in the marine industry with a cleaner technology,” said Tommy Skinner, Senior Venture Associate at Michigan Rise. “Over the last two years, they’ve diligently developed their product, and we believe they’re well-positioned for successful commercialization.”
Financing from this round will be used to build out inventory, hire additional talent, and establish product proof points needed to secure the next round of seed financing.
