Electric Vessel Maker Candela Closes Record Funding Round of €24.5 Million

Sweden's Candela, a maker of sustainable, electric hydrofoil vessels, has closed the largest funding round in the company's history. The new investment round will help to scale up production to meet demand for the recently launched Candela P-12, the world’s first electric hydrofoil ferry.

A key partner in the €24.5 million round is Groupe Beneteau — the largest global boat maker, with a turnover of €1.46 billion.

As they fly above the friction of water, Candela’s computer-stabilised hydrofoil craft use 80% less energy than other ships and boats, attaining long range and high speed on battery power.

Its fully connected vessels also have an onboard Flight controller uses real time data from sensors to counteract waves, eliminating motion sickness and discomfort. 

Gustav Hasselskog, Founder and CEO of Candela, says: “We couldn’t be more excited about having Groupe Beneteau on board. As the leading global boat company, their trust is a stamp of approval for our technology to transform waterborne transportation. We’re excited for the possibilities ahead." 

Bruno Thivoyon, CEO at Groupe Beneteau, adds: “Our investment perfectly aligns with Groupe Beneteau‘s ecological transition objectives, scaling up innovative solutions for more sustainable boating and unparalleled experiences. Candela’s technology, enabling significantly more efficient electric vessels, will transform waterborne transport into its next sustainable phase.”

With over 220 employees, Candela develops its tech and vessels in-house in Stockholm,