Global Infrastructure SherpaCandela raises $30M in largest funding round to scale hydrofoiling electric ferry production
Candela secured $30 million in its largest funding round to date, led by the IFC, the private investment arm of the World Bank Group. The capital will finance the construction of a second manufacturing facility in Sweden to scale production of its hydrofoiling electric P-12 passenger ferries. The expansion aims to meet growing global demand for zero-emission maritime transport solutions across Europe and North America. Candela's P-12 ferries use AI-powered hydrofoil technology to cut energy use by up to 80% compared to conventional vessels. The IFC joins existing investors in this round, marking a strategic step in financing sustainable urban water transport infrastructure.
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- $30 million funding round
- Led by the IFC
- Second manufacturing facility in Sweden
- Announced on 2026-03-19
- Hydrofoiling electric P-12 passenger ferries
Source Intelligence
The IFC contributed 8 million euros. The second factory will be located in Poland. Deployments are slated for Mumbai, the Maldives, Saudi Arabia's NEOM project, Thailand, and additional markets from 2026. The P-12 ferry uses AI-powered hydrofoil technology to cut energy use by up to 80% compared to conventional vessels and produces zero wake. It is the world's first electric hydrofoil ferry in scheduled commuter service. The vessel has been deployed in Stockholm, Gothenburg, Oslo, and Trondheim. The company is applying scalable, platform-based serial production to advanced carbon-fibre vessels.
"the private-sector arm of the World Bank Group, which contributed 8 million euros"
"It was backed by all existing shareholders - EQT Ventures, SEB Private Equity, KanDela AB, and Ocean Zero LLC - alongside new investor the International Finance Corporation (IFC)"
"It was backed by all existing shareholders - EQT Ventures, SEB Private Equity, KanDela AB, and Ocean Zero LLC - alongside new investor the International Finance Corporation (IFC)"
"It was backed by all existing shareholders - EQT Ventures, SEB Private Equity, KanDela AB, and Ocean Zero LLC - alongside new investor the International Finance Corporation (IFC)"
"It was backed by all existing shareholders - EQT Ventures, SEB Private Equity, KanDela AB, and Ocean Zero LLC - alongside new investor the International Finance Corporation (IFC)"
"Flying electric vessel maker Candela raises 30 million euros amid soaring oil prices"
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