PHOTO COURTESY SHARROW MARINESharrow Marine yesterday announced that it secured a round of equity and debt financing worth $32 million. The company plans to use the funds to accelerate growth and continue new product development.
“We are thrilled to have secured financing from McFadden and Dolby, distinguished investors with a remarkable track record of supporting innovative companies and technologies,” Greg Sharrow, CEO of Sharrow Engineering, said in a statement. “This funding empowers Sharrow to further invest in our technology, manufacturing capacity, expand our sales and marketing efforts, and ultimately, deliver unparalleled propeller solutions to our valued customers. With this support, we’re positioned to complete significant licensing arrangements to further penetrate new and existing markets.”
The Sharrow propeller is currently available for all major outboard manufacturers: Yamaha, Mercury, Honda, Evinrude, Suzuki, Johnson, Nissan, OXE and COX.
