by Micah Toll
And now, things may begin moving into overdrive thanks to a large new funding round that will see €24 million added to the company’s war chest.
It’s the largest funding round ever completed by a European boat maker, gas-powered or electric.
The new funding round was led by EQT Ventures and saw participation from existing investor Chris Anderson, the Curator of TED.
According to the company, the additional funding will be used to triple Candela’s fast-growing R&D team, invest in production automation, and scale up the production of its electric vessels.
Candela plans to build the “world’s most automated boat factory” in north Stockholm, which will be capable of producing 400 Candela C-8 boats per year, as well as a number of Candela’s larger P-30 passenger ferries.