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The Candela C-8 electric hydrofoiling boat. Photo courtesy of Candela

The Swedish electric boat startup Candela has raised $27 million from investors led by EQT Ventures, making it the latest of several firms in that space to attract fresh investment.

How it works: The company is looking to commercialize multiple types of boats that use hydrofoil technology, or "computer-guided underwater wings." They say this requires much less energy to propel the vessels.

Where it stands: The company began producing its C-7 sport boat in 2019 and is preparing to begin deliveries of another model, the C-8 seen above, this spring.

  • They've also got an electric ferry slated to begin operation in Sweden in 2023.
  • Candela said the new funding will enable it to triple R&D, invest in production automation and boost sales. TechCrunch has more.

The big picture: The funding round comes roughly two weeks after the electric boat startup 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.

  • Also two weeks ago GM announced a 25% stake in the electric boating company Pure Watercraft, whose CEO told CNBC the deal was worth $150 million.

Go deeper

Ben Geman, author of Generate
Jan 14, 2022 - Energy & Environment

Indian electric vehicle company EVage raises $28 million

Illustration: Aïda Amer/Axios

The Indian electric vehicle company EVage just raised a $28 million seed round aimed to help the firm build delivery trucks for companies including Amazon's partner in the country.

Driving the news: The U.S.-based, mobility-focused VC firm RedBlue Capital led the funding round, and its aimed at enabling EVage to complete a factory outside of Delhi, the announcement states.

Thousands without power as "hazardous" winter storm lashes East Coast

Winter view from Charlotte as winter storm Izzy creates dangerous conditions in Charlotte, N.C. on Jan. 16. Photo: Peter Zay/Anadolu Agency via Getty Images

A major winter storm was lashing much of the East Coast on Sunday, causing widespread power outages and disrupting travel over the holiday weekend.

The big picture: Heavy snow and ice accumulations were "likely to produce hazardous travel," downed trees and more outages from the Mid-South to the Northeast, per the National Weather Service. Some parts of the U.S. can expect to see up to a foot of snow through Monday.

Updated 6 hours ago - Science

Volcanic eruption in Tonga caused "significant" damage

This satellite image of the eruption on Jan. 15 taken by Himawari-8, a Japanese weather satellite operated by Japan Meteorological Agency and released by National Institute of Information and Communications Technology (NICT). Photo: NICT via AP

Significant damage has been reported in Tonga following an undersea volcanic eruption on Saturday, which covered the Pacific nation in ash and cut off communication lines.

Driving the news: The eruption triggered tsunami warnings across Tonga's islands and in other regions, including the West Coast of the U.S. and New Zealand, which were later lifted.

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