What is Candela?
Candela is at the forefront of sustainable maritime innovation, developing hydrofoiling electric boats and ferries designed for long range and high speed. Their proprietary hydrofoil technology dramatically reduces energy consumption by 80%, enabling silent, fast, and zero-emission vessels with exceptional efficiency. This technological leap positions Candela as a key player in the burgeoning market for eco-friendly water transportation, offering a compelling alternative to conventional fossil-fuel-powered craft.
How much funding has Candela raised?
Candela has raised a total of $119.1M across 5 funding rounds:
Other Financing Round
$24M
Unspecified
$20M
Unspecified
$26.5M
Other Financing Round
$14M
Other Financing Round
$34.6M
Other Financing Round (2021): $24M with participation from EQT Ventures
Unspecified (2023): $20M led by EQT Ventures, Joel Eklund, Ocean Zero, and Svante Nilo Bengtsson
Unspecified (2024): $26.5M supported by EQT Ventures and Ocean Zero
Other Financing Round (2024): $14M featuring Kandela, EQT Ventures, and SEB Group
Other Financing Round (2026): $34.6M backed by SEB, International Finance Corporation, and EQT
Key Investors in Candela
EQT
EQT Group is a purpose-driven global investment organization with a focus on technology and services, known for its strategic investments across various capital stages.
International Finance Corporation
International Finance Corporation is a multilateral financial institution dedicated to mobilizing capital for sustainable development in emerging markets, supporting private sector growth across diverse sectors.
EQT Ventures
EQT Ventures is a venture capital firm that invests in early-stage technology companies, providing strategic backing to innovative startups.
What's next for Candela?
The substantial enterprise-level funding and recent strategic investment signal a pivotal phase for Candela. This capital infusion is expected to accelerate product development, scale manufacturing operations, and expand market reach for their innovative electric hydrofoil vessels. With a clear focus on sustainability and performance, Candela is poised to capture a significant share of the growing demand for green maritime solutions, potentially leading to further expansion and technological advancements in the electric boat and ferry market.
See full Candela company page
