# ENVGO

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/envgo

- Industry: Transportation Services
- Headquarters: Waterloo, Canada
- Website: www.envgo.com/
- Total disclosed funding: $2M
- Latest round: Seed (Jun 10, 2025)
- Investors on record: 2

## About

Based in Canada, ENVGO Inc. specializes in designing and manufacturing innovative electric hydrofoiling boats, targeting environmentally conscious consumers and marine enthusiasts with high-performance solutions.Founded in 2021 in Waterloo, Canada, ENVGO Inc. focuses on electric hydrofoiling boat technology. The company has completed 2 deals, with its latest funding round being a Seed round led by Two Small Fish Ventures, which raised CAD 2.700 mn, bringing the total raised to CAD 2.700 mn. This funding is aimed at developing the NV1 prototype, further solidifying its market presence.ENVGO Inc. specializes in the design and manufacture of electric hydrofoiling boats, utilizing aerospace technology to innovate within the marine mobility sector. The flagship product, the ENVGO NV1, is engineered with aerospace-grade materials, targeting eco-conscious consumers and marine enthusiasts seeking high-performance boating solutions. These hydrofoiling boats lift above the water's surface on hydrofoils, reducing drag and increasing speed while promoting zero-emission travel. The primary customer base consists of recreational boaters, eco-conscious consumers, and commercial entities with an interest in sustainable marine transportation, primarily marketed in North America and select international markets.Specific revenue figures for ENVGO Inc. are not publicly disclosed, but the company generates revenue through direct sales of its hydrofoiling boats to consumers and potential partnerships with marine retailers. The sales model likely includes direct-to-consumer transactions, where customers can reserve or purchase the NV1 boat. Additionally, ENVGO may explore subscription-based models for maintenance services or upgrades, enhancing customer retention and loyalty. The pricing structure aligns with the premium nature of the product, reflecting its advanced technology and unique design features within the boating industry.ENVGO Inc. plans to leverage recent funding, including a Seed round led by Garage Capital, to build and develop the NV1 prototype. The company is also focused on expanding into new markets, aiming to increase its presence in various regions with a strong demand for innovative and eco-friendly watercraft. This strategy indicates a commitment to growth and market penetration, supported by the recent funding to enhance product development and reach.

## Funding rounds

- Seed, Jun 10, 2025, $2M — Two Small Fish Ventures, Garage Capital

## Investors

- Two Small Fish Ventures (https://capitalatlas.ai/funds/two-small-fish-ventures) — Seed
- Garage Capital (https://capitalatlas.ai/funds/garage-capital) — Seed