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Candela Speed Boat is a technology company.
Candela develops electric hydrofoil boats and ferries for leisure and commercial use. Its core innovation integrates an actively stabilized, computer-controlled C-FOIL system with an efficient direct-drive C-Pod motor. This technology lifts vessels like the C-8 and P-12 from water, dramatically reducing drag, achieving superior range, speed, and energy efficiency. This approach significantly minimizes energy consumption compared to traditional marine vessels.
Gustav Hasselskog founded Candela, driven by the conviction that sustainable marine propulsion was essential. Observing traditional boats' environmental impact, Hasselskog sought a cleaner, more efficient way to navigate. His commitment to a truly sustainable boat led to Candela's advanced hydrofoil technology, which was developed to address these ecological concerns and offer a better boating experience.
Candela serves private boat owners and commercial operators, offering leisure craft and the P-12 electric ferry series. The company's vision is to redefine urban water mobility and accelerate the shift to fossil fuel-free waters. Providing quiet, smooth, and responsible vessels, Candela aims to transform marine travel, setting a new standard for environmentally conscious water transport globally.
Candela Speed Boat has raised $131.0M across 6 funding rounds.
Candela Speed Boat has raised $131.0M in total across 6 funding rounds.
Candela is a technology company specializing in hydrofoiling electric boats and ferries for leisure and commercial use, revolutionizing sustainable water travel by cutting energy use by 80% compared to traditional vessels.[1][3] Their flagship products, like the Candela C-8 and P-12, serve private owners, ferry operators, and coastal commuters, solving problems of polluting, costly, and inefficient fossil fuel boats with silent, fast, zero-emission alternatives that reduce road congestion and emissions.[1][2] With $33.4 million in revenue, 165 employees in Lidingö, Sweden, and a growing team of over 200, Candela demonstrates strong growth momentum, including being the best-selling electric boat in Europe (Candela Seven) and achieving milestones like the first all-electric Mediterranean crossing.[2][3][4]
Candela was founded in 2014 by Gustav Hasselskog, CEO, who posed the question: Why can’t electric boats outperform fossil-fuel ones?[1][3] Hasselskog, drawing from expertise in hydrodynamics, control theory, machine learning, and engineering, led five years of R&D to develop a stable computer-controlled hydrofoil system—the key breakthrough for their first boat, the C-7, enabling smooth "flight" over water.[3][4] Early traction came from this innovation, growing into a global team of over 200 from 20+ nationalities, now production-constrained by high demand rather than limited interest.[3]
Candela rides the global shift to fossil fuel-free transport, leveraging electric propulsion and aerospace-inspired hydrofoils to unlock waterways for efficient, low-emission travel from Stockholm to Bangkok.[1][3] Timing aligns with rising demand for clean maritime options amid climate regulations and urban congestion, where traditional ferries fail economically on shorter routes.[4] Market forces like EV battery advancements and hydrodynamics expertise favor them, positioning Candela to boost coastal connectivity (e.g., Costa del Sol) and influence ecosystem-wide adoption of electric vessels.[1][4]
Candela's path forward centers on scaling production to meet demand, driving down costs, and expanding ferry lines like the P-12 for commercial routes.[3] Trends in sustainable mobility, advanced batteries, and AI-driven controls will propel their growth, potentially dominating electric hydrofoiling as waterways electrify. Their influence may evolve from leisure pioneer to infrastructure enabler, fully realizing Hasselskog's vision of outperforming fossil fuels on water.[1][3] This positions Candela as a leader in the blue economy transition.
Candela Speed Boat has raised $131.0M in total across 6 funding rounds.
Candela Speed Boat's investors include Joel Eklund, Marnix van der Ploeg, Farid Fezoua, Simone Hirschvogl, PhD, CFA, EQT Ventures, Anders Jöngard, Lars Jörnow, KanDela, Bruno Thivoyon, Kan Dela, Ocean Zero, Svante Nilo Bengtsson.
Candela Speed Boat has raised $131.0M across 6 funding rounds. Most recently, it raised $34.6M Candela - Other Equity in March 2026.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Mar 20, 2026 | $34.6M Candela - Other Equity | Joel Eklund, Marnix van der Ploeg, Farid Fezoua, Simone Hirschvogl, PhD, CFA | |
| Aug 13, 2025 | $8.1M Candela - Series C | EQT Ventures | |
| Nov 21, 2024 | $14.0M Candela - Series C | Anders Jöngard | Lars Jörnow, KanDela |
| Mar 19, 2024 | $27.2M Candela - Series B | Lars Jörnow, Bruno Thivoyon, Kan Dela, Ocean Zero | |
| Mar 20, 2023 | $20.1M Candela - Series B | Joel Eklund, Svante Nilo Bengtsson, Lars Jörnow | Ocean Zero |
| Dec 1, 2021 | $27.0M Venture Round | EQT Ventures |