Candela announced investment of SEK 80M, backing from Chris Anderson.

Sweden Spain 10 September 2020

Candela, a Stockholm, Sweden-based electric boat manufacturer, announced the completion of a SEK 80M ($9.1M) capital investment round.

The funding was provided by a range of investors including the American media guy Chris Anderson.

Candela Speed Boat, founded in 2014 by CEO Gustav Hasselskog, took five years of R&D for the developmeny of its first product, the Candela Seven, a 25-foot speed boat. The boat has hydrofoils – small wings – under the hull, which at 17 knots, lift the entire hull above the surface, which reduces energy consumption by 80 percent compared to traditional, planing boat hulls.

At a cruise speed of 20 knots, the Candela Seven is able to travel 57 miles on one charge– two times further than any other electric boat on the market and with only one-third of the battery capacity.

Candela, which has 35 employees, aims to produce 40 units a year and previously raised money from investors including the Swedish angel investor Christer von der Burg.