Dallas-based AllOY is set to make waves in the $57 billion recreational boat market. The marine tech company, which emerged from stealth in July, has unveiled the design for its first 28-foot catamaran featuring advanced autonomous technology and electric power.
AllOY intends to make boating worry-free with an autonomous system that it calls “the perfect co-captain.”
The idea is to make cruising around any body of water easy with big touch screens at its reimagined helm—touch a spot on its map, and you’re off.
The boat also has advanced autonomous features such as auto docking, undocking, go-to-point navigation, and more—and ongoing updates delivered over the air, the company told Dallas Innovates via email. There’s also a joystick for full control of the boat.
CEO and Co-Founder Brandon Cotter wants to “bring a layer of intelligence to boating.” AllOY’s boats will be a conduit for the technology it’s developing, similar to companies like Apple or Tesla, he said earlier this year.
Veteran boat builder joins board
Cotter says the startup is progressing into the next phase of growth, as the startup announces the addition of veteran boat builder John Dorton to AllOY’s board of directors.
Cotter says Dorton “brings decades of boat building and leadership expertise” to the board. That industry knowledge is “invaluable to the company as we make technical advancements in an industry that is eager for modernization,” he said.
Dorton, the CEO at Warbird Holdings and the former President and CEO of Mastercraft Boat Company, looks forward to bringing new technology to boating. Warbird Holdings is the parent company of PE-backed Invincible Boats and YellowFin Boats.
“We’re going to make boating even easier and safer than it is today, and ultimately bring new participants to our sport,” Dorton said.
Building boats with a tech brain and an “electric heartbeat”
AllOY co-founders Cotter and Powell Kinney, who is the company’s CTO, have spent two years of developing and perfecting their autonomous technology. The pair founded the company to make the boating experience smarter and safer.
Awareness is critical in boating, Cotter says.
With the startup’s advanced sensor suite, boaters can get a complete picture of their surroundings. Its radar, lidar, and computer vision technology are developed for situational insight—close up and further out—“watching” for other vessels or swimmers near your boat.
AllOY has released initial renderings of its first recreational boat on its website.
The company will begin taking preorders in 2023, and expects to ship the first production boats in late 2024. The expected retail price is $350,000 for the 28-foot power catamaran, according to the company website. Propelled by dual waterjets, it has dual 300 hp electric motors and a battery rated for all-day use.
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