Candela

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.

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

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

• Electric hydrofoil boats
• Electric passenger ferries
• Marine electric propulsion
• Zero-emission water transport
• Electric leisure boats

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices2 records

Markets served

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

1. 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.
2. 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.
3. 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

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core 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

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature7 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Boreal AScoreChannel Partner/ Reseller/ Distributor · 12 April 2026Norwegian 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.
• JalVimanacoreStrategic or Co-development Partner · 13 June 2025Indian 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.comcoreChannel Partner/ Reseller/ DistributorUS operator deploying first American P-12 ferry at Lake Tahoe, linking 14 ski resorts. Candela providing vessels for the historic US electric hydrofoil debut.
• PolestarminorStrategic or Co-development PartnerCollaboration 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

Broad 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

• Xx.com/candelaboat
• YouTubeyoutube.com/channel/UCakeosYLRgiMRIqfJUTlVvQ
• Facebookfacebook.com/candelaboats
• LinkedInlinkedin.com/company/candela-speed-boat
• Instagraminstagram.com/candelaboats

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds6 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Candela