Candela Valuation, Funding & Investors
Candela is valued at $227M as of August 2025.
Last Candela valuation
$227M
Undisclosed stage · Aug 2025
Last Candela funding round
$35M
Undisclosed stage · Mar 2026
Cumulative funding Candela raised
$131M
across 6 funding rounds
Key investors in Candela
EQT Ventures
Ocean Zero
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Kan DelaSEB Group
International Finance Corporation
Chris Anderson
About Candela
Candela is a Stockholm-headquartered manufacturer of electric hydrofoil vessels. The company produces leisure boats like the C-7 and C-8 with retractable foils, alongside the P-12 ferry for passenger transport. Candela's in-house flight controllers, electric motors, and batteries enable vessels to skim above water surfaces, achieving ranges over 50 nautical miles at speeds up to 30 knots with zero emissions. Deployments include shuttle services in Sweden and orders from the Maldives.
Founded
2014
HQ
StockholmWebsite
Status
Privately held
Customer focus
B2C & B2B
Revenue model
Product sales
Valuation
$227M (Aug 2025)
Candela Valuation
Candela is currently valued at $227M, based on its undisclosed-stage round in August 2025.
The $8M round was led by EQT Ventures.
Candela valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Aug 2025 | Undisclosed stage | $227M |
Candela Funding History
Candela has raised a total of $131M across 6 funding rounds.
Candela's first fundraising round was a $27M Series A in December 2021. The most recent completed round was a $35M undisclosed-stage round in March 2026.
Candela funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2026 | Undisclosed stage | International Finance Corporation (lead); SEB Group; Kan Dela; EQT Ventures; Ocean Zero | $35M | - | - |
| Aug 2025 | Undisclosed stage | EQT Ventures (lead) | $8M | $227M | Candela is a Swedish electric boat manufacturer specializing in hydrofoiling vessels like the P-12 passenger ferry. EQT Ventures invested SEK 77.6 million in a directed share issue, valuing the company at SEK 2.17 billion post-investment, unchanged from the prior round. The funding supports market expansion, production scaling, and new deals such as those with Neom and Jalvimana. CEO Gustav Hasselskog highlighted the strategy to capture the electric vessel market, prioritizing growth over profitability. The investment aligns with rising demand for sustainable marine propulsion amid trends in electric vehicles. Candela has secured major international orders and plans further growth in commercial ferries. This round follows previous financings, positioning the company as a leader in zero-emission water transport. |
| Nov 2024 | Series C | SEB Group (lead); Kan Dela; EQT Ventures | $14M | - | Candela, a Stockholm-based developer of hydrofoiling electric vessels, raised $14 million (€13 million) in a Series C extension round on November 21, 2024, led by SEB Private Equity with participation from EQT Ventures and KanDela AB. This brought total 2024 funding to $40 million (€37 million). The funds support scaling production of the Candela P-12 electric ferry to meet demand in the $15 billion electric ferry market. The P-12 has secured contracts for deployment in Lake Tahoe, U.S., Saudi Arabia’s NEOM project, Berlin, and New Zealand, following initial public transport introductions in Stockholm, Gothenburg, Oslo, and Trondheim. Candela produced its 100th electric leisure hydrofoil vessel, targeting the global electric waterborne transport market projected to reach $15.32 billion by 2032. Total funding since inception reached €129 million, positioning it as the best-funded electric vessel manufacturer. |
| Mar 2024 | Series C | Beneteau (lead); Kan Dela; EQT Ventures; Ocean Zero | $26M | - | Candela is a Swedish electric boat manufacturer specializing in hydrofoil vessels, founded in 2014. The company designs and manufactures electric hydrofoil boats that use foil technology to achieve significantly improved efficiency and performance compared to conventional electric vessels. Candela's flagship product is the P-12 electric ferry, which was launched in 2023 and deployed commercially between the Stockholm suburb of Ekerö and central Stockholm. In March 2024, Candela closed its largest funding round to date, raising €24.5 million (approximately US$26.6 million). The round was led by Groupe Beneteau, the world's largest boat manufacturer with a turnover of €1.46 billion, 15 factories, nine brands, and production of more than 8,000 yachts annually. Other investors in the round included existing backers EQT Ventures, Ocean Zero LLC, and Kan Dela AB. CEO Bruno Thivoyon of Groupe Beneteau stated that the investment aligned with the company's ecological transition objectives and would enable scaling of innovative sustainable boating solutions. Candela founder and CEO Gustav Hasselskog emphasized that the company had achieved technological maturity after years of development and was positioned to scale commercial vessel production. He noted that in any industry, the fastest-scaling company would dominate the market. The capital was intended primarily to expand production of the P-12 ferry to meet growing commercial demand. The March 2024 funding round brought Candela's total capital raised since inception to over €70 million. The company has positioned itself as a pioneer in commercial electric hydrofoil vessel development, with technology that significantly improves the efficiency of electric waterborne transportation. The participation of Groupe Beneteau, one of the world's largest and most established boat manufacturers with a century-long history, represented a major validation of Candela's technology and market potential. |
| Mar 2023 | Undisclosed stage | EQT Ventures (lead); Joel Eklund (lead); Svante Nilo Bengtsson (lead); Ocean Zero | $20M | - | No matching funding round found for Candela with the exact investors EQT Ventures, Joel Eklund, Ocean Zero, and Svante Nilo Bengtsson around March 20, 2023. Sources describe later rounds, such as a €30M raise in 2024 backed by IFC (World Bank), EQT Ventures, SEB Private Equity, KanDela, and Ocean Zero to scale production of P-12 hydrofoil ferries and open a factory in Poland, bringing total funding to €129M. Another €25M/€24M round in 2024 involved Groupe Beneteau, EQT Ventures, Ocean Zero, and KanDela, totaling over €70M, focused on P-12 production. An earlier €24M round led by EQT Ventures is mentioned without the exact investor match or 2023 date. |
| Dec 2021 | Series A | EQT Ventures (lead); Chris Anderson | $27M | - | Candela is a Swedish electric ferry and hydrofoil vessel manufacturer founded in 2014 and based in Stockholm. The company pioneered hydrofoiling technology that uses underwater wings to lift the hull above the water, reducing energy consumption by approximately 80% compared to conventional high-speed vessels. The company's product line includes the Candela C-8 leisure day cruiser, the P-30 shuttle ferry (described as the world's first electric hydrofoil passenger vessel), and the P-12 water taxi. In December 2021, Candela announced a €24 million funding round led by EQT Ventures with participation from existing investor Chris Anderson, curator of TED. The capital was allocated to triple the company's R&D team, invest in production automation, establish a new automated factory in Stockholm to complement existing facilities, and expand the sales organization. By the time of a subsequent €30 million funding round announced in 2025-2026, Candela had raised €129 million cumulatively since inception, making it the best-funded electric vessel manufacturer globally. The company reported current orders of 65 vessels and had established production facilities in Poland to apply scalable, platform-based serial production. Candela's commercial traction included pilot projects and contracts across multiple regions including Sweden, Norway, India, the Maldives, Saudi Arabia's NEOM project, Thailand, the United States, and key Asian markets. |
Who has invested in Candela?
9 investors have backed Candela across its funding rounds, including EQT Ventures, Ocean Zero, Kan Dela, SEB Group, International Finance Corporation and Chris Anderson.
Lead investors include International Finance Corporation, EQT Ventures, SEB Group, Beneteau, Joel Eklund and 1 other investor.
Candela Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Stockholm | 6 | Lead | Dec 2021 | |
| Kan Dela | Malmö | 3 | Participant | Mar 2024 |
 New York City, NY | 3 | Participant | Mar 2023 | |
| Stockholm | 2 | Lead | Nov 2024 | |
| San Francisco, CA | 1 | Participant | Dec 2021 | |
| Joel Eklund | Malmö | 1 | Lead | Mar 2023 |
| Washington, DC | 1 | Lead | Mar 2026 | |
This data is available for Pro users. Sign up to see all 9 Candela investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialCandela Competitors
Candela competitors include listed companies like Electreon Wireless, Microvast and EVgo, and private ones like Quantron, Matter and Edison Motors.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Israel | Publicly listed | $5M | ($33M) | $233M | - | |
 Gersthofen | Private | $15M | - | $245M | 16.3x | |
| United States | Publicly listed | $428M | $3M | $245M | 0.8x | |
| United States | Publicly listed | $384M | ($18M) | $209M | 2.1x | |
 India | Private | $26M | - | $204M | 7.8x | |
 Canada | Private | - | - | $200M | - |
Candela Public Comps
Candela is still privately-owned, but its public comps include Electreon Wireless, EVgo, Microvast, ChargePoint, Alfen, Niu Technologies, LiveWire, Digital Currency X, WLM and Saean Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $5M | ($33M) | 43.2x | - | (7.0x) | - | |||
| $384M | ($18M) | 2.2x | 2.1x | (46.9x) | (78.2x) | |||
| $428M | $3M | 0.7x | 0.8x | 122.6x | 9.6x | |||
| $411M | ($170M) | 1.0x | 1.0x | (2.5x) | (7.4x) | |||
| $502M | $24M | 0.6x | 0.5x | 11.4x | 10.4x | |||
| $642M | $4M | 0.1x | 0.1x | 10.4x | (2.6x) | |||
| $26M | ($66M) | 12.3x | 12.3x | (4.8x) | - | |||
| - | $71M | - | - | 2.2x | - | |||
This data is available for Pro users. Sign up to see all Candela competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Candela
| When was Candela founded? | Candela was founded in 2014. |
| Where is Candela headquartered? | Candela is headquartered in Stockholm, Sweden. |
| Is Candela publicly listed? | No, Candela is a private, VC-backed company. |
| What is Candela's valuation? | Candela was last valued at $227M in its undisclosed-stage round in August 2025. |
| How much funding has Candela raised? | Candela has raised $131M across 6 funding rounds. |
| What was Candela's last funding round? | Candela's last funding round was a $35M undisclosed-stage round in March 2026, led by International Finance Corporation. |
| Who are Candela's investors? | Candela's investors include EQT Ventures, Kan Dela, Ocean Zero, SEB Group, Chris Anderson, Joel Eklund, International Finance Corporation, Beneteau and Svante Nilo Bengtsson. |
| Which companies are comparable to Candela? | Companies comparable to Candela include Electreon Wireless, Quantron, Microvast, EVgo, Matter and Edison Motors. |
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