What we learned from our first season on the water

Spring 2025 marked the start of our first full season in operation.

What follows are our key learnings from the first real operating season. About the market, the customers, and where OTTER Explorer works best in real-world use.

After 2.5 years of development, the OTTER Explorer moved from prototypes and demos into everyday use by paying customers. This season was about observing how the craft performs once it leaves our hands.

With roughly three dozen units on the water and hundreds of operating hours behind us, we took the winter to step back and reflect on what actually mattered in daily use and what mattered less than we initially thought.

Where OTTER Explorer was actually used

From the outset, OTTER Explorer was deployed across three main customer segments:

• Private owners: typically first or second time boat owners

• Hospitality: primarily premium waterfront hotels

• Watersport rentals: integrating OTTER into existing fleets

In terms of unit sales, distribution ended up being surprisingly balanced across these three segments.

OTTER tends to perform best in places with an interesting coastline or bay to explore. Locations near cities or with a steady tourist flow also tend to perform particularly well.

What we learned by customer segment

Private owners: strong interest but profound filters to ownership

We have had overwhelming interest for the concept since the start. The e-assisted experience, comfort, and side-by-side seating resonated especially with active couples, 45 - 75 years old.

At the same time, adoption was clearly filtered by practical constraints:

• Transport and storage: The Explorer simply doesn't fit in the trunk of your car if you don't have a van.

• Price expectations: a premium, tech-heavy craft comes at a price not everyone wants to pay or can afford

  
  

These constraints didn’t negate interest, they simply narrowed the audience. This was expected, but seeing it play out in real use helped us better understand who the OTTER Explorer is and isn’t for in its current form. You either have a location at a (calm) body of water or a vehicle to transport it.

Hospitality: fastest adoption, strongest early fit

Hospitality emerged as the most natural early adopter.

For hotels, the OTTER Explorer delivered exactly what they were looking for:

• A distinctive guest experience to stand out

• High perceived value in comfort and usability

• Easy operation for their staff

Purchasing decisions in this segment were also less narrowly ROI-driven compared to boat rentals. Comfort, uniqueness, and guest experience played a larger role than utilization math alone, and budget constraints tended to be less restrictive

One operational insight stood out: usage strongly depended on how visible and actively promoted the OTTER was.

When the craft was clearly visible from the waterfront and actively suggested by staff, usage increased significantly. Once the first guests were out on the water, a natural multiplier effect often kicked in. Other guests became curious and wanted to try it as well.

Rental operators: Large potential, higher scrutiny

The rental market has huge potential, but also has its barriers to entry.

Rental operators are naturally more cautious as they are investing their own money and need reliable operational workhorses. Compared to the boring but proven pedal boats or simple motorized craft, OTTER Explorer is a new craft from a new company so it naturally comes with scrutiny. Adoption was therefore somewhat slower compared to hospitality.

Rental operators put their own capital on the line. As a result, new products are typically evaluated against three very clear criteria:

• Customer demand: Whether the craft attracts attention and repeat usage

• Durability and reliability: Whether it holds up under the intensive use

• Economic viability: Whether the revenue potential justifies the investment

  
  

Over a full operating season, we were able to clearly validate the first two.

Rental operators consistently reported that guests enjoyed the experience a lot and that they had the first repeated customers returning for longer or repeat sessions.

One interesting observation was that the user group turned out to be very broad. From young couples and families to older guests, the craft proved intuitive and approachable for a wide range of people. Way simpler than a motorboat.

Across different locations, hourly rental prices typically ended up in the range of 50–60 CHF / EUR per hour, positioning OTTER clearly as a premium experience compared to traditional pedal boats.

Despite the harsh realities of rental use, OTTER Explorer also proved robust, with very few true service interventions and minimal downtime across hundreds of operating hours.

On the economic side, the picture is more nuanced. In practice this means OTTER performs best in rental operations with a certain scale, where several boats and a steady stream of customers allow the investment to be recuperated more quickly. In smaller rental operations, the payback period is naturally longer.

What this means going forward

This first operating season confirmed two things:

First, the experience works. People understand it quickly, enjoy it deeply, and come back for more. It validates our emphasis on a unique cycling experience and social comfort.

Second, one product cannot optimally serve every segment (of course).

Launching with a single craft was a necessary starting point. It allowed us to test assumptions, surface real constraints, and understand where value was genuinely created and where it wasn’t.

As we plan the next phase of OTTER, these learnings are shaping how we think about product architecture, platform decisions, and long-term partner relationships.

If you're curious about more detailed insights from the season, get in touch. I'm always happy to share what we’ve learned.

For us, this was just the beginning.

Thank you,

Gian