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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.

Updated 59 mins ago - Politics & Policy

British national named in Colleyville synagogue standoff

A law enforcement vehicle sits near the Congregation Beth Israel synagogue on Jan. 16. Photo: Brandon Bell/Getty Images

British national Malik Faisal Akram took four people hostage at a Texas synagogue outside Fort Worth on Saturday, the FBI said in a statement.

State of play: Authorities had initially declined to release the name of the 44-year-old suspect or identify the hostages, all adults, though police chief Michael Miller confirmed that one of those held was Rabbi Charlie Cytron-Walker, who leads the congregation.

Updated 1 hour ago - Politics & Policy

Omicron dashboard

Illustration: Brendan Lynch/Axios

  1. Health: Concerns grow over CDC's isolation guidelines — Experts warn of more COVID-19 variants after Omicron — WHO recommends 2 new treatments — What "mild" really means when it comes to Omicron — Deaths are climbing as cases skyrocket.
  2. Vaccines: America's vaccination drive runs out of gas— Puerto Rico expands booster shot requirements— Supreme Court blocks Biden's vaccine mandate for large employers.
  3. Politics: Vivek Murthy calls SCOTUS vaccine mandate block "a setback for public health" — Focus group says Biden weak on COVID response, strong on democracy
  4. Economy: America's labor shortage is bigger than the pandemic— — CDC COVID guidance for cruise ships to be optional starting Saturday — The cost of testing.
  5. States: West Virginia governor feeling "extremely unwell" after positive test — Youngkin ends mandates for masks in schools and COVID vaccinations for state workers — America struggles to keep schools open
  6. World: Beijing reports first local Omicron case weeks before Winter Olympics — Teachers in France stage mass walkout over COVID protocols.
  7. Variant tracker

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