Sweden’s electric boat startup Candela is making waves
The Swedish electric boat start Candela has raised $ 27 million from investors led by EQT Ventures, making it the latest of several companies in the area to attract new investments.
How it works: The company is considering commercializing several types of boats that use carrier plane technology, or “computer-controlled underwater swings.” They say that this requires much less energy to power the ships.
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Where it stands: The company began manufacturing its C-7 sports boat in 2019 and is preparing to begin deliveries of another model, the C-8 seen above, this spring.
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They also have an electric ferry planned to start operating in Sweden in 2023.
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Candela said the new funding will make it possible to triple R&D, invest in production automation and increase sales. TechCrunch has more.
The big picture: The funding round comes about two weeks after the electric boat launch Arc raised a $ 30 million Series A round from investors led by Eclipse Ventures’ Greg Reichow (a Tesla alum), as well as Andreessen Horowitz and others.
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Also two weeks ago GM announced a share of 25% in the electric boat company Pure Watercraft, whose CEO told CNBC that the deal was worth $ 150 million.
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