Vessev, a New Zealand marine technology company, has raised US$19 million in Series A and follow-on funding and announced FlyTahoe as its first U.S. commercial customer. The company is entering the U.S. market with demonstrations in New York City, Washington, D.C., and Lake Tahoe.
The funding round was led by Blackbird Ventures with participation from new and existing investors. The capital will support production of Vessev’s VS-9 electric hydrofoiling vessel, software development, larger vessel programmes, global expansion, and plans for U.S. manufacturing.
FlyTahoe plans to use the VS-9 to provide sustainable water transit on Lake Tahoe, offering a faster alternative to road congestion around the lake.
Vessev’s technology uses electric hydrofoils to lift vessels above the water, reducing drag, energy consumption, and wake. The company says its vessels are up to three times more efficient than conventional boats while providing a smoother passenger experience.
The VS-9 is already commercially certified and operating in New Zealand, with over 11,000 nautical miles logged. The 10-passenger vessel has a range of up to 40 nautical miles fully loaded and 50 nautical miles with a light load.
With growing international demand and projects underway in locations including Northern Ireland, Sydney, and Hobart, Vessev aims to expand the use of electric hydrofoiling as a scalable, low-emission transportation solution.
For more information, visit
www.vessev.com
