Loading organizations...
Based in Waterloo, Ontario, enVgo develops AI-native electric hydrofoil boats and platform technologies for the commercial and recreational marine mobility sectors. The company integrates aerospace engineering, active hydrofoils, and cleantech powertrains to produce vessels like the NV1 Founders Edition, which features an AI-driven autonomous co-pilot system, speeds up to 80 kilometers per hour, and a maximum 130-kilometer range. Operating through both direct manufacturing and original equipment manufacturer partnerships, the firm provides license-ready integration models for boat builders targeting luxury craft, ferries, and workboat applications. The enterprise has raised an initial $2 million seed funding round led by Two Small Fish Ventures, with additional participation from Garage Capital and a grant from Sustainable Development Technology Canada. enVgo was founded in 2021 by former Aeryon Labs executives Mike Peasgood, Mike Tribou, April Blaylock, Paul Masojc, and Jerry Mailloux.
enVgo has raised $2.0M across 1 funding round.
enVgo has raised $2.0M in total across 1 funding round.
enVgo is a deep tech startup founded in 2021 in Waterloo, Ontario, Canada, specializing in electric hydrofoil boats and AI-native marine platforms that revolutionize recreational and commercial boating.[1][2][5] The company builds the NV1, a high-performance electric hydrofoil boat reaching speeds up to 80 km/h with a 130 km range, featuring active hydrofoils, cleantech powertrains, sensor fusion autonomy, and an AI co-pilot for safety features like 360-degree views, dock assist, and navigation.[1][2][3] It serves eco-conscious recreational boaters, OEMs, boat builders, and potentially ferries/workboats by solving key problems in traditional boating—pollution, noise, wake, limited range, and drag—through aerospace-inspired designs that enable silent, efficient "flight" over water with zero emissions.[1][3][4]
enVgo's growth momentum includes early prototypes, the NV1 Founders Edition launch, investments led by Two Small Fish (alongside Garage Capital), industry partnerships, and exhibitions like METSTRADE 2025, positioning it as a full-stack platform for electrified, autonomous marine systems beyond just boats.[2][3][5]
enVgo was founded in 2021 by a team of experts from Aeryon Labs, a Waterloo-based drone startup they grew and exited for over $200M, bringing proven skills in aerospace engineering, robotics, flight controls, propulsion, and AI autonomy to marine applications.[1][2][5] CEO Dr. Mike Peasgood, with a PhD in Robotics and co-founder experience at Aeryon Labs, sparked the idea from his early passion for sailing and a vision to reimagine boating using principles from unstable aircraft dynamics on water—treating hydrofoils as a flight problem.[2][4][5]
The idea emerged from recognizing marine electrification's need for a new tech stack; the team built a 12-foot single-seat prototype to validate their in-house stack (helm to propeller), achieving early traction with thrilling "flight over water" demos, which paved the way for the NV1 and broader platform ambitions.[5] Six core members from Aeryon Labs form the foundation, including CTO, System Architect, COO, VP Sales & BD, and VP Engineering, united by their history of building high-performance autonomous systems.[2][5]
enVgo stands out in the electric boating space through its aerospace-rooted, software-centric approach:
enVgo rides the marine electrification trend, fueled by rising demand for sustainable boating amid climate regulations, EV battery advancements, and consumer shifts toward zero-emission luxury experiences.[1][4] Timing is ideal: post-2020 electric marine startups boom, with enVgo differentiating via hydrofoils and AI to solve range/anxiety issues plaguing hull designs, aligning with broader cleantech pushes in transport (e.g., drones to boats).[2][3]
Market forces favor it—global boating electrification, OEM partnerships for ferries/workboats, and North American drone expertise scaling to marine—while influencing the ecosystem as a platform provider, enabling builders to offer AI-powered, efficient vessels and setting standards for autonomous marine mobility.[2][3][5]
enVgo is poised to scale from NV1 demos to widespread OEM integrations and autonomous fleets, leveraging its AI platform for ferries, luxury craft, and beyond as battery tech improves and regulations tighten.[2][3] Trends like AI autonomy in transport and cleantech mandates will accelerate adoption, potentially evolving enVgo into marine mobility's foundational stack, much like Aeryon did for drones. With investor backing and team track record, expect partnerships and commercial launches to cement its leadership in clean, high-performance boating.[2][4] This Waterloo innovator, born from sailboat dreams and drone triumphs, is electrifying waterways one hydrofoil at a time.[5]
enVgo has raised $2.0M in total across 1 funding round.
enVgo's investors include Acequia Capital, AlleyCorp, Bling Capital, Catapult Capital, Change Ventures, Contrarian Ventures, Dreamers VC, FJ Labs, Khosla Ventures, L Catterton Growth, Moxxie Ventures, Pareto Holdings.
enVgo has raised $2.0M across 1 funding round. Most recently, it raised $2.0M Seed in June 2025.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jun 1, 2025 | $2M Seed | — | Acequia Capital, AlleyCorp, Bling Capital, Catapult Capital, Change Ventures, Contrarian Ventures, Dreamers VC, FJ Labs, Khosla Ventures, L Catterton, Moxxie Ventures, Pareto Holdings, Scribble Ventures, Tapas Capital, TWO Small Fish Ventures, Adrian Aoun, Ameet Ranadive, BOB Young, Bradley Horowitz, Evan Moore, Gokul Rajaram, James Blouzard, Joshua Schachter, Kevin LIN, Kevin Weil, Mantas Mikuckas, Markus Villig, Martin Henk, Martin Villig, OTT Kaukver, Pete Koomen, Ragnar Sass, Richard Branson, Rohini Pandhi, Scott Belsky, Steve Chen, Thomas Plantenga, Varsha RAO | Announced |
