Slovenian startup Quadrofoil raises €3 million for its high-tech, eco-friendly boats

quadrofoil

Slovenian startup Quadrofoil is shaping the future of the nautical industry, producing energy efficient, environmentally friendly vessels that are powered by electric motors and equipped with hydrofoils and a patented steering system.

The company aims to design and produce sustainable, green vessels – from personal watercrafts for daily use to public and cargo transportation vessels – using hydrofoiling technology.

After a year-long investor pitch process, Quadrofoil has secured €3 million in a Series A financing round led by the Swiss investor AlpVent AG, which it will use to accelerate production, the development of new products, and global marketing. The new investment brings Quadrofoil’s total funding since the launch of its eco-friendly vessel Q2 Electric to €4.2 million.

The investment is one of the largest venture rounds for a Slovenian company or a nautical tech company. It will also enable the startup to focus on research and development for new technologies, platforms, products and solutions for autonomous water transportation system.

The company plans to seek Series B funding in the future, which it will use to build partnerships to establish international mass serial production, establish a new R&D centre, a sales and distribution network, and a renting and sharing system.