What is Candela?
Candela is a pioneering technology firm specializing in the design and production of hydrofoiling electric boats and ferries. By integrating advanced hydrofoil systems, the company achieves an 80% reduction in energy consumption compared to conventional vessels. This technological edge allows Candela to deliver high-speed, long-range performance without the carbon footprint associated with traditional combustion engines. The company's market position is defined by its commitment to decarbonizing waterborne travel, effectively bridging the gap between luxury performance and sustainable utility. As urban centers and transit authorities seek to modernize their maritime infrastructure, Candela provides a scalable, silent, and highly efficient alternative that is rapidly gaining traction in both private and public sectors.
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 Svante Nilo Bengtsson, Joel Eklund, EQT Ventures, and Ocean Zero
Unspecified (2024): $26.5M supported by Ocean Zero and EQT Ventures
Other Financing Round (2024): $14M featuring Kandela, SEB Group, and EQT Ventures
Other Financing Round (2026): $34.6M backed by EQT, SEB, and International Finance Corporation
Key Investors in Candela
EQT
EQT Group is a global investment organization with a long history of driving sustainable growth and operational excellence across private capital and infrastructure sectors.
SEB
SEB is a prominent Swedish financial services group providing comprehensive banking, investment, and asset management solutions across the Nordic region.
International Finance Corporation
The International Finance Corporation is a multilateral institution focused on mobilizing capital and expertise to support sustainable development and infrastructure growth in emerging markets.
What's next for Candela?
With the recent influx of $34.6M, Candela is well-positioned to accelerate its manufacturing capabilities and expand its global footprint. The strategic focus will likely shift toward scaling production lines to accommodate larger ferry contracts and enhancing the software stack that powers its autonomous hydrofoiling systems. Furthermore, the company is expected to leverage this capital to strengthen its supply chain and invest in next-generation battery integration, ensuring that its vessels remain at the forefront of maritime efficiency. As the regulatory landscape shifts toward stricter emission standards, Candela's ability to provide a proven, zero-emission alternative positions it as a critical player in the future of global maritime logistics and public transit.
See full Candela company page
