We are proud to announce Startmate's investment in ZeroJet.
ZeroJet has developed an electric jet propulsion system for high performance watercraft. Think instant acceleration and power, with nothing but the sound of whipping wind and the smell of clean ocean air.
This investment holds a special place in our hearts. ZeroJet was one the earlier Kiwi companies to come through the Accelerator. And we couldn’t be more proud to continue believing in them.
Setting Sail
The story of ZeroJet dates back to 2014 when founders and aquatic enthusiasts Bex and Neil launched a business renting out motorised surfboards.
After several viral videos, a feature in Red Bull International Magazine, and a listing as one of Western Australia’s top 10 tourist attractions,Voltaic Jetboards quickly became a local hotstop for joyride enthusiasts.
“Everything just went nuts. We’d found a niche, there was huge demand but we had some qualms with the product being a petrol powered board.” Neil says.
Conscious of the negative environmental impacts and equipped with engineering expertise, Neil set off to design a greener jetboard.
Little did he know, his new electric jet propulsion system would go on to power much larger vessels than just surfboards.
After two years of bootstrapping and the successful development of the world’s fastest electric jetboard (reaching a whopping 70 km/h on water), they were ready to go to market.
But their new tech had sparked interest amongst boat builders who hoped to steer ZeroJet in a new direction. Boating.
Realising the demand, the ZeroJet team docked the jetboards and pivoted to watercraft.
That brings us to 2020.
From Zero to Hero
ZeroJet joined the Winter 2020 Accelerator cohort with only an idea.
“We had just pivoted to building engines for boats. But we had no design yet, no product, no customers. It really was just an idea.”
“We were surrounded by all of these other companies who had products that they were trying to accelerate. We weren’t even close to that.”
Excited by the prospect of mentorship and expert guidance, the team thrust themselves into it.
“I remember thinking most of the advisors were nuts.”
“They were pushing us to take a product to market before we had even designed it. I didn't understand how you could do that.”
“They pushed us so hard to get out there and sell to customers.”
“That was the best advice that I was ever given: sell before you're ready to sell.”
Despite the constraints of a global pandemic, they managed to sell their first boat for $50,000 before they’d even designed it.
And by the end of the 12 weeks, they had attracted huge talent, were featured across global media outlets and received a waterfall of investment.
Today ZeroJet is truly an international company with boats dotted around the globe.
“Currently we have boats in the Bahamas, Finland, Singapore, Japan, Fiji, Germany, Spain, Australia and New Zealand.”
Their customers are typically high-net worth individuals who actively seek out ZeroJet’s electric jet propulsion watercraft to fit cosily inside their charter yachts.
Buoy, an exciting future!
So what’s in the pipeline for ZeroJet?
“Lots of big things.”
2024 looks like global expansion with offices opening up in the US and Europe.
“We've got 60 international boat builders in our sales pipeline that we're actively engaging with.”
“Now that our product has matured, we’ll be moving to volume production of our vessels. And we will be offering more powerful engines than our current 20 h/p output.”
It looks like smooth sailing for ZeroJet and we are so proud to be on board their vision to eliminate the need for combustion engines on new boats.
ZeroJet in action: Models are none other than the founders, Bex and Neil
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