What is Candela?
Candela is a pioneering technology firm specializing in the design and manufacture of hydrofoiling electric boats and ferries. By leveraging advanced hydrofoil systems, the company achieves an 80% reduction in energy consumption compared to traditional maritime vessels, effectively bridging the gap between high-speed performance and environmental sustainability. The company's market position is characterized by its ability to deliver silent, zero-emission transit solutions that do not compromise on range or speed, positioning it as a critical player in the ongoing decarbonization of the global maritime industry.
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, Svante Nilo Bengtsson, Joel Eklund, and Ocean Zero
Unspecified (2024): $26.5M supported by EQT Ventures and Ocean Zero
Other Financing Round (2024): $14M featuring EQT Ventures, SEB Group, and Kandela
Other Financing Round (2026): $34.6M backed by International Finance Corporation, SEB, and EQT
Key Investors in Candela
International Finance Corporation
A multilateral financial institution dedicated to mobilizing capital and expertise for sustainable development across emerging markets.
EQT
A global private-capital investment platform focused on thematic, sector-specific growth across technology and industrial services.
SEB
A prominent Swedish financial services group providing comprehensive investment banking and asset management solutions across the Nordic region.
What's next for Candela?
With the successful closure of its latest financing round, Candela is well-positioned to accelerate its industrial scaling efforts and expand its footprint in the commercial ferry market. The strategic deployment of these funds will likely focus on enhancing manufacturing throughput and refining the next generation of its hydrofoiling architecture. As the maritime sector faces increasing regulatory pressure to reduce carbon footprints, Candela's ability to provide high-efficiency, scalable electric solutions makes it a prime candidate for further institutional backing and potential expansion into new international markets.
See full Candela company page
