Candela, a Stockholm, Sweden-based company that designs and manufactures electric boats and ferries that use hydrofoil technology, raised $14M and closed its Series C funding at $40M.
The round was led by SEB Private Equity, with participation from previous investors EQT Ventures and KanDela AB.
The company intends to use the funds to scale up P-12 production at its Stockholm facility.
Led by CEO and Founder Gustav Hasselskog, Candela makes hydrofoiling electric boats and ferries that combine long range with high speed. Its hydrofoil technology (C-Foil) is a computer-guided hydrofoil system with underwater wings that lift the hull above the water, reducing energy consumption by 80% compared to other high-speed vessels. This enables the rare combination of high speed and extended electric range. Recently, the company introduced a foiling electric ferry, the Candela P-12, into Stockholm’s public transport system. Here, the P-12 has already demonstrated its ability to halve commute times and showcase the potential to eliminate fossil fuel reliance in city transport.
FinSMEs
26/11/2024