Sharrow Marine, a subsidiary of Sharrow Engineering LLC, a manufacturer of propellers for boats and ships, announced the successful completion of a $30+ million series of debt and equity financings.
This milestone was led by the family offices of John H. McFadden, Esq. and David Dolby, director of Dolby Laboratories and CEO of Dolby Family Ventures.
The company plans to use the funds to accelerate its growth plans and to continue developing innovative propeller technology for the marine and aeronautical industries.
“We are thrilled to have secured financing from McFadden and Dolby, distinguished investors with a remarkable track record of supporting innovative companies and technologies,” said Greg Sharrow, CEO of Sharrow Engineering. “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.”
“Sharrow Marine has already made significant strides in the market, having secured partnerships with leading marine manufacturers and operators, “ said David Dolby. “The funding enables the company to expand its manufacturing capacity and accelerate its growth trajectory.”