Candela Raises €30 Million in Growth-Stage Funding Round

Why It Matters

The new capital enables Candela to shift from low‑volume custom builds to serial production, lowering costs and accelerating adoption of zero‑emission ferries. This could reshape urban water transport and help emerging economies meet climate targets.

Key Takeaways

• €30 million funding brings total to €129 million
• New Poland plant will scale P‑12 ferry production
• Hydrofoil design cuts energy use 80% versus diesel
• 65+ vessels ordered; deployments start 2026 globally
• IFC investment signals confidence in emerging‑market maritime electrification

Pulse Analysis

Candela’s €30 million raise arrives at a time when climate‑tech financing is tightening, making the round noteworthy for both investors and the maritime sector. Existing shareholders EQT Ventures and SEB Private Equity reaffirmed confidence, while the International Finance Corporation—part of the World Bank Group—committed €8 million, signaling institutional belief in scalable, low‑carbon water transport. The new capital will finance a second production line in Poland, a strategic location that shortens supply chains to both European and Asian customers. By bolstering its balance sheet, Candela positions itself to compete with traditional shipyards and to attract further private‑equity interest.

The P‑12 hydrofoil ferry distinguishes itself through a combination of carbon‑fiber hulls and computer‑controlled foils that lift the vessel above the water, slashing drag and cutting energy consumption by up to 80 % compared with diesel‑powered equivalents. Faster trip times and near‑zero wake also improve passenger experience and reduce shoreline erosion. Operators in Stockholm, Gothenburg, Oslo and Trondheim have reported lower operating expenses, prompting more than 65 vessels on order for routes ranging from European commuter lines to long‑haul services in Mumbai. These real‑world deployments prove that the technology is no longer a prototype but a commercially viable alternative.

Scaling the business mirrors the trajectory of the electric‑vehicle industry: moving from bespoke builds to platform‑based serial production. Candela’s investment in carbon‑fiber manufacturing and a Poland plant aims to achieve economies of scale that bring unit costs down, making electric ferries affordable for both wealthy metros and emerging‑market ports. The IFC’s involvement underscores the potential for public‑private partnerships to fund sustainable infrastructure in developing regions. If the company can sustain its order book and expand into projects like NEOM, the Maldives and Thailand, it could catalyze a broader revival of water‑based transit, contributing significantly to global decarbonisation goals.

Deal Summary

Swedish electric hydrofoiling boat maker Candela announced a €30 million funding round, bringing its total capital to €129 million. Existing backers EQT Ventures and SEB Private Equity participated alongside new investor International Finance Corporation, with proceeds earmarked for a second manufacturing plant in Poland and global expansion of its P‑12 ferries.