Candela
Candela is a Stockholm-based manufacturer of electric hydrofoil boats and ferries, selling P-12 commercial ferries to public transport operators and C-series leisure boats to private buyers, powered by proprietary foil-lift technology and the C-Pod motor.
- Company typePrivate
- Founded2014
- HeadquartersStockholm, Sweden
- Headcount1–10
- GTM typeB2B and B2C
- OfferingHardware or Manufacturing
What Candela does
Candela is a Stockholm-headquartered, Swedish-founded (2014) manufacturer of electric hydrofoil boats serving two end-markets through distinct product lines. The professional P-12 series (Shuttle, Voyager, Business) targets municipal transport authorities, government agencies, and commercial ferry operators with 30-passenger electric ferries priced at approximately €1.7M per vessel; the leisure C-series (C-8 starting at €330,000 and C-7) sells direct-to-consumer to affluent private buyers. The company's underlying technology is a computer-controlled hydrofoil system using T-shaped fully submerged wings that lift the hull above the water surface, reducing energy consumption by approximately 80% versus conventional high-speed vessels and enabling 50 nautical miles of range at 25 knots from a one-hour DC fast charge. Candela's proprietary C-Pod electric motor, carbon fiber construction, flight controller, and Connected Vehicle Platform (built on AWS IoT Core, Telegraf, InfluxDB, AWS IoT FleetWise, and Grafana) round out the stack, alongside an in-house computer vision system for collision avoidance and predictive maintenance via time-series data analytics.
The business model is primarily hardware sales — both one-time/perp tier pricing for ferry and leisure vessels — with an emerging subscription/recurring component for fleet management and connected services. Commercial customers are reached via direct enterprise field sales (selling to operators such as Boreal AS, JalVimana, NEOM, and Stockholm Public Transport), while leisure boats are sold direct-to-consumer through candela.com with test drive booking. Regional channel partnerships (FlyTahoe in the US, Leopard Transportation in Thailand) and distributor arrangements support market entry in new geographies. Order backlog stood at approximately 65+ vessels worth €185M across deployments in Sweden, Norway, India, Maldives, Saudi Arabia, Thailand, and the United States.
The company is venture-backed with €129M raised since inception across multiple rounds led by EQT Ventures, SEB Private Equity, IFC, and Groupe Beneteau, and was valued at approximately SEK 2.5B following its March 2026 round. Disclosed 2024 revenue was €11M against an €18.5M EBITDA loss, with a second manufacturing facility under construction in Gdańsk, Poland (scheduled for 2027 completion) and management signaling a potential Stockholm IPO within two to three years. The founder and CEO, Gustav Hasselskog, continues to lead the company.
Candela firmographics
Firmographics- Name
- Candela
- Legal name
- Candela Technology AB
- Website
- https://candela.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Candela is a Stockholm-based manufacturer of electric hydrofoil boats and ferries, selling P-12 commercial ferries to public transport operators and C-series leisure boats to private buyers, powered by proprietary foil-lift technology and the C-Pod motor.
- Ownership category
- akta.pro rank
Candela industry classification
Industry- Product category
- Electric Hydrofoil Boats and Ferries
- NAICS
- Ship Building and Repairing (336611), Ship and Boat Building (3366)
- SIC
- Ship & Boat Building & Repairing (3730)
- akta.pro primary industry
- Passenger Ferries & Water Taxis (Fast Ferries, RoPax, Catamarans) (IMAJADAC)
- akta.pro secondary industry
- Electric & Hybrid Leisure Craft Manufacturing (IMAJAEAK)
Keywords
Where Candela is headquartered
LocationHeadquarters
- HQ city
- Stockholm
- HQ country
- Sweden
- HQ region
- Europe
Offices2 records
Markets served
Candela business model
Business model- GTM type
- B2B and B2C
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Technology or R&D, Supply Chain, Infrastructure, Marketing or Sales, Operations
Revenue model
- Electric Hydrofoil Ferries (P-12 Series): Sale of electric hydrofoil ferries to public transport operators and commercial customers. P-12 Shuttle priced at approximately €1.7 million per vessel. Revenue recognized upon delivery with potential for service and maintenance contracts.
- Leisure Electric Boats (C-Series): Sale of consumer electric hydrofoil boats including C-8 (starting at €330,000) and C-7 models. Direct-to-consumer sales model with test drives and website-based purchasing process.
- Fleet Management & Connected Services: Cloud-based monitoring, predictive maintenance, and fleet optimization services for commercial operators. Includes over-the-air software updates and remote performance management.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Multi-year contract | P-12 Shuttle - 30-passenger electric hydrofoil ferry for public transport |
| One time/ perpetual license | Pay-as-you-go | C-8 Leisure Electric Boat |
| One time/ perpetual license | Multi-year contract | P-12 Business - Luxury electric ferry variant |
| One time/ perpetual license | Multi-year contract | P-12 Voyager - Extended range variant |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels6 records
Candela product offering
Product offeringCore offering
Candela designs, manufactures, and sells electric hydrofoil boats and ferries that lift the hull above the water surface using computer-controlled submerged foils, reducing energy consumption by 80% versus conventional vessels. Its professional P-12 series provides zero-emission passenger ferries for public transport and shuttle operators, while the C-series (C-7, C-8) offers silent, premium leisure boats for private consumers, all powered by the proprietary C-Pod electric motor and connected via the cloud-based Connected Vehicle Platform.
Product overview
Candela is a Swedish electric boat manufacturer offering two distinct product lines: professional electric hydrofoil ferries (P-12 series) for public transport and shuttle services, and leisure electric hydrofoil boats (C-series) for private owners. The P-12 series includes the Shuttle (30-passenger commuter ferry), Voyager (extended range), and Business (luxury) models, all utilizing Candela's proprietary hydrofoil technology to lift the hull above water, reducing energy consumption by 80%. The C-series comprises the C-8 (flagship leisure boat) and C-7 (entry-level), both powered by the C-Pod electric motor. All vessels integrate with Candela's Connected Vehicle Platform for cloud connectivity, predictive maintenance, and AI-powered collision avoidance. Candela's hydrofoil technology uses computer-controlled underwater wings that adjust 100 times per second, enabling silent, smooth, zero-emission operation.
Differentiator
Problem solved
Functional benefit
Brands
- P-12 Shuttle: Electric hydrofoil ferry for public transport, seating 30 passengers, cruising at 25 knots with 50 nautical mile range
- P-12 Voyager
- P-12 Business
- C-8
- C-7
- C-Pod
Products and services
- P-12 Shuttle The world's first electric hydrofoil ferry for public transport, carrying 30 passengers at 25 knots with a 50 nautical mile range and 1-hour recharge on standard DC fast chargers. Reduces energy consumption by 80% compared to conventional high-speed vessels.
- P-12 Voyager Extended-range variant of the P-12 electric hydrofoil ferry designed for longer regional commuter and transport routes, maintaining the hydrofoil technology platform with enhanced range capabilities.
- P-12 Business Luxury electric ferry variant using hydrofoil technology that provides a smooth, quiet ride with reduced environmental impact, designed for high-end transport routes with premium amenities.
- C-8 Candela's best-selling electric hydrofoil leisure boat featuring retractable foils that allow operation in water depths as shallow as 60 cm. Offers a range of 57 nautical miles at 22 knots, powered by the C-Pod motor, and provides a superior experience free from noise, exhaust fumes, and slamming of conventional powerboats. Starting price approximately €330,000.
- C-7 The first of its kind electric hydrofoil boat that pioneered Candela's hydrofoil technology for leisure applications. Features the same underlying foiling system as the C-8, establishing the foundation for Candela's electric boat technology.
- C-Pod Electric Motor Candela's proprietary electric motor powering both leisure boats and ferries, described as the quietest and most power-dense marine motor available, enabling the energy efficiency advantages of Candela's hydrofoil vessels.
- Connected Vehicle Platform (CVP) Cloud-based connected boat platform built on AWS IoT Core, Telegraf, InfluxDB, AWS IoT FleetWise, and Grafana that enables remote performance management, predictive maintenance, fleet provisioning, and security for commercial operators. Collects real-time data on engine status, GPS, battery health, and efficiency parameters for optimization, with over-the-air software updates.
Quantifiable outcome
- 80% energy consumption reduction vs conventional high-speed vessels
- +6 more outcomes
Companies that use Candela
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles3 records
Candela technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability5 records
Feature7 records
Candela partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- Boreal AScoreNorwegian sustainable transport operator ordered 20 P-12 vessels for cross-fjord routes along Norway's coastline. Deliveries starting 2027, forming world's largest electric ferry fleet.
- JalVimanacoreIndian transport operator signed largest deal to date for 11 P-12 vessels for Mumbai Water Metro. Candela providing vessels while JalVimana operates the service, establishing world's largest electric waterway network.
- FlyTahoe.comcoreUS operator deploying first American P-12 ferry at Lake Tahoe, linking 14 ski resorts. Candela providing vessels for the historic US electric hydrofoil debut.
- PolestarminorCollaboration for sustainable electric experience, combining electric vehicle and electric boat technologies for comprehensive electric mobility solutions.
Scale indicators10 records
Recent moves9 records
Expansion highlights7 records
Candela competitors and assessment
Company assessmentBroad incumbents
- Torqeedo: German market leader in electric boat propulsion (now owned by Yamaha). Competes in marine electric motors and integrated propulsion systems; broader portfolio but serves overlapping OEM and retrofit electric boat customers.
- Wärtsilä: Global marine technology and ship energy supplier. While currently focused on large-vessel hybrid solutions, Wärtsilä's scale, customer relationships with ferry operators, and electrification roadmap make it a credible future competitor or partner in the electric ferry transition.
- Groupe Beneteau: Largest European boat manufacturer across multiple powerboat and sailing brands. Existing Candela investor and potential strategic acquirer or competitor with deep dealer networks, manufacturing scale, and brand portfolio covering both leisure and commercial marine markets.
Emerging players
- Evoy: Norwegian supplier of high-output electric outboard and inboard propulsion systems for boats. Comparable in the electric marine drivetrain space — a direct competitor/complement to Candela's C-Pod motor offering and a potential component partner or rival.
- Boundary Layer Technologies: California-based startup developing containerized hydrofoil water taxi technology for urban transit. An emerging direct competitor in the electric hydrofoil passenger vessel category, focused on the US market where Candela is just entering via FlyTahoe.
Direct peers
- Duffy Electric Boats: Long-established US manufacturer of electric leisure boats for lakes, harbors, and low-speed recreational use. Competes in the electric leisure segment, though at lower speed/price points than Candela's hydrofoil C-series.
- Artemis Technologies: Belfast-based developer of the Artemis EF-12 passenger foiling ferry using similar hydrofoil technology. Direct competitor in electric hydrofoil ferries for public transport, particularly in the UK and European markets.
- Brødrene Aa: Norwegian carbon fiber high-speed ferry builder that has supplied vessels to Boreal and other Norwegian operators. Comparable in building lightweight fast ferries for the same Norwegian and Scandinavian customer base as Candela's P-12.
- X Shore: Swedish premium electric leisure boat maker (X Shore 1 and Eelex 8000). Direct competitor in the European electric leisure boat segment targeting the same affluent eco-conscious consumer as Candela's C-8.
- Silent-Yachts: Builder of solar-powered catamarans and yachts. Competes in the premium zero-emission leisure marine segment and has overlapping customer demographics with Candela's leisure boat division.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Candela social profiles
Digital presenceCandela financial estimates
Financial estimateRevenue estimate
Valuation estimate
Candela leadership team
Management profileNumber of profiles
Profiles2 records
Candela funding detail
Funding detailFunding overview
Funding rounds6 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Candela M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Candela
What does Candela do?
Candela designs, manufactures, and sells electric hydrofoil boats and ferries that lift the hull above the water surface using computer-controlled submerged foils, reducing energy consumption by 80% versus conventional vessels. Its professional P-12 series provides zero-emission passenger ferries for public transport and shuttle operators, while the C-series (C-7, C-8) offers silent, premium leisure boats for private consumers, all powered by the proprietary C-Pod electric motor and connected via the cloud-based Connected Vehicle Platform.
Is Candela a public or private company?
Candela is a private company. It is classified as venture growth investor backed and is currently operating.
When was Candela founded?
Candela was founded in 2014. It employs 1 to 10 people.
Where is Candela based?
Candela is headquartered in Stockholm, Sweden, in the Europe region.
How does Candela make money?
Three revenue lines are on record. Electric Hydrofoil Ferries (P-12 Series) is the primary driver. The others are leisure Electric Boats (C-Series) and fleet Management & Connected Services.
Who are Candela's main competitors?
Broad incumbents on record are Torqeedo, Wärtsilä and Groupe Beneteau. Emerging players are Evoy and Boundary Layer Technologies. Direct peers are Duffy Electric Boats, Artemis Technologies, Brødrene Aa, X Shore and Silent-Yachts.
Does Candela have an API?
No public API is recorded for Candela.
What industry is Candela in?
Candela's product category is Electric Hydrofoil Boats and Ferries. Its primary akta.pro industry code is IMAJADAC, Passenger Ferries & Water Taxis (Fast Ferries, RoPax, Catamarans), with a secondary code of IMAJAEAK, Electric & Hybrid Leisure Craft Manufacturing. Its NAICS code is 336611 and its SIC code is 3730.