At Two Small Fish, we invest in founders who build the future from first principles, especially when that future requires reimagining what others see as immutable. That’s why we’re excited to announce our investment in ENVGO, a deep tech company pioneering the electrified, intelligent, and autonomous marine systems of tomorrow. We’re proud to lead this round, alongside our friends at Garage Capital.
Marine Electrification Needs a New Stack
Despite the momentum behind electric vehicles, marine transportation remains anchored in outdated infrastructure. Most boats still burn gas, resist automation, and struggle with energy efficiency. Electrifying marine systems isn’t as simple as replacing engines. Watercraft are roughly 10× less efficient than cars, and the physical environment introduces entirely different dynamics.
ENVGO is solving this from the hull up. Their flagship vessel, the NV1, is an hydrofoiling electric boat that flies above the water to drastically reduce drag and turbulence. The experience is as elegant as it is radical: quiet, smooth, and fast.
Aerospace-Caliber Engineering Meets Maritime Vision
Fast-moving vessels on unpredictable water behave more like unstable aircraft than cars. That’s why ENVGO’s founding team, led by Dr. Mike Peasgood, brings a uniquely qualified background: six core members previously built Aeryon Labs, one of North America’s most successful drone startups, which exited for $200M+.
Their approach combines high-efficiency drivetrains, sensor fusion autonomy stacks, and a retractable hydrofoil architecture, all developed in-house. With a modular design and software-centric philosophy, ENVGO is creating the foundational runtime for intelligent marine vehicles.
Powered by ENVGO
We believe ENVGO is not just a boat company. It’s a full-stack platform company, poised to define a new category of marine mobility. By treating hydrofoiling as a flight problem, and by designing for autonomy from day one, the team is unlocking a future where marine transport is cleaner, smarter, and more accessible.
Shipbuilding is a $200B global industry, and ENVGO aims to transform its core. From recreation and mobility to shipping, defense, and fishing, TSF believes electrification, automation, and connectivity will reshape these categories, unlocking new market opportunities in the process.
Above all, the team’s passion and chemistry are unmistakable. While a handful of startups are exploring electric boats, few, if any, match ENVGO’s blend of technical depth, executional excellence, and long-term vision.
At TSF, we look for deep tech teams with proven execution and vision that extends beyond the product. ENVGO exemplifies both. We're thrilled to support them as they electrify the waterways.
