Assembly Line

Stockholm-based electric vessel maker Candela gets €25 million to speed up production

📅 Date:

🔖 Topics: Funding Event

🏭 Vertical: Ship and Boat

🏢 Organizations: Candela, Groupe Beneteau

Candela, a leading maker of electric vessels, announced it has closed the largest funding round in the company’s history, to expand production of its game-changing electric ferries. A key partner in the €25 million round is the leading global boat maker Groupe Beneteau. Other backers in the round include longtime investors EQT Ventures, Ocean Zero LLC, and Kan Dela AB. The new investment brings total funding since Candela’s inception to over €70 million.

Candela’s innovative, computer-stabilized hydrofoil craft have disrupted the marine industry. As they fly above the friction of water, they use 80% less energy than other ships and boats, attaining long range and high speed on battery power – a first in the marine industry.

Read more at EU Startups