Quadrofoil, the Slovenian startup that designed and manufactured the world’s first fully electric powered and completely environmentally friendly hydro-foiling watercraft-up, raises € 3 million in a Series A funding led by Switzerland AlpVent AG, making one of the largest venture rounds for a nautical-focused high-tech company, the startup announced. The money will be used for Quadrofoils to accelerate its manufacturing and market activities in 2019. Since the lunch of their revolutionary eco-friendly vessel Q2 Electric, this investment brings Quadrofoil to total funding of € 4.2 million.
For Marjan M. Rožman, President & CEO at Quadrofoil, the investment made by AlpVent is a powerful signal that the company is an innovative leader in the nautical industry.
“We are creating technology that propels the future of the nautical industries and energy-efficient water transportation systems. AlpVents’ investment is a powerful signal that we are the innovative leader in our field and a confirmation that we have done things right in the past. Seeing the future in the same form, shape and benefits for the planet and people on one side, and joining ideas, innovations and concepts with market knowledge and access to capital on the other, has brought us to the new platform of cooperation that will give us the very much needed boost of fresh energy to deliver on our past promises and focus on developing new eco-friendly water transport solutions.”
Reportedly the fresh capital will also help the company to speed up its transformation from a start-up to a serious international company. At the same time, as expected by the startup, this will also speed up the second phase of investors pitch in Series B funding.
Founded in 2011, Quadrofoil is a high-tech development company with a team of skilled engineers, nautical enthusiast and visionaries, who designed and manufactured the revolutionary fully electric powered and completely environmentally friendly hydro-foiling watercraft.
According to the company data, for now, their most popular product is Q2S Electric Limited Edition vessels. Inquiries from individual buyers and dealerships far surpass the company’s production capacities and the current production capacities are full until July 2019. So far Quadrofoil has received more than 1,300 dealership requests from 127 countries and has re-started accepting pre-orders for the 2nd half of 2019.
For AlpVent AG this partnership with Quadrofoil will help the two companies to address a 60 Billion Euro global market of nautical and water transport industry thus making it a good and safe investment.
“Quadrofoil is more than just a start-up with one fancy product and a globally recognizable brand”, says Aleksander Kopač, President & CEO at AlpVent AG. “Quadrofoil is especially an exceptional team. We recognized the value of the Quadrofoils’ unique and revolutionary vision, ideas, innovations, products and the possible future impacts of global deployment of clean, energy efficient and user-friendly hydro-foiling water transport solutions. Together we will be addressing a 60 Billion Euro global market of nautical and water transport industry. Being able to support Quadrofoil on its way to global market success is a good and safe investment opportunity for AlpVent. I think this investment sends a strong signal on the types of technologies that will define the nautical industry in the future.”
AlpVent AG is a Swiss investment company investing in highly promising start-ups. As a result of 25 years of entrepreneurial experience, the company understands the needs of entrepreneurs extremely well. By offering investment capital and management consulting services to the start-ups, AlpVent provides so-called smart money support.