Candela raises EUR 30 million in new equity

Candela has secured its largest funding round to date, with the World Bank’s IFC arm joining existing investors. The round will finance a second manufacturing facility to scale production of its groundbreaking hydrofoiling P-12 ferries and meet growing global demand.

The round brings Candela’s total capital raised to EUR 129 million since its inception, making it the best-funded electric vessel manufacturer globally. Candela 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), the private-sector arm of the World Bank Group, which contributed EUR 8 million.

The raise defies a broader downturn in climate-tech investment and follows the recent, successful real-world deployment of the P-12 in public transport across Stockholm, Gothenburg, Oslo, and Trondheim, where the vessel demonstrated strong technical performance, significantly reduced operating costs, and dramatically shorter travel times compared to traditional diesel ferries.

Candela was advised by Mannheimer Swartling in the transaction.