About Maritime Tech sector in Sweden
The Maritime Tech sector in Sweden comprises 36 companies, including 10 funded companies having collectively raised $270M in venture capital money and private equity. Out of these, 9 are Series A+ funded.
Maritime Tech sector in Sweden has seen 5 acquisitions and 1 IPO. This represents almost 16.7% of all such companies - which is higher than the 5.0% exit rate of tech companies in general.
This sector includes companies manufacturing innovative ships/boats. Companies providing technology based solutions for ship/boat manufacturing and shipping industry.
Maritime Tech sector is also known as Maritime Tech or Marine Tech.
Includes Companies providing Innovative Ships, Shipbuilding solutions. Also providing, Marine Electronics including Radar System, Collision Avoidance System, Navigation and Control systems, etc.
Also includes Marine IT solutions for ship operations, port management, Marine data tracking, and management, etc. Excludes Manufacturing companies including Shipbuilders, Engine Manufacturers, Component Manufacturers.
Also Excludes Companies providing water transport solutions including Cruise & Ferry Operators, Catering and Entertainment Services, Port Operators and Agents, Freight Forwarders, Inland Shipping Companies, Ship Leasing Companies, etc.
Top Maritime Tech Companies in Sweden
There are 36 Maritime Tech startups in Sweden which include Candela, Echandia, Cetasol, X Shore, Seapilot. Out of these, 10 startups are funded, with 9 having secured Series A+ funding.
Notably, several of these startups have been founded by alumni of KTH Royal Institute of Technology, Technical University of Munich and The University of British Columbia.
Here is the list of top Maritime Tech startups in Sweden
1. Candela
Manufacturer of hydrofoiling electric boats and ferries. These vessels combine long range with high speed, achieving significant energy savings through innovative hydrofoil technology. They offer zero-emission, quiet operation, and are designed for both leisure and professional applications, including public transport and private client solutions. The company's technology aims to revolutionize sustainable water travel by providing quicker, more comfortable, and cost-effective alternatives to traditional ferries.
Key facts about Candela
2. Echandia
Provider of solutions for lithium-titanium-oxide cells. It provides batteries with the battery management system which ensures full performance over the battery’s lifetime as well as suitable installation components, racks and cables.
Key facts about Echandia
- Founded Year: 2009
- Location: Solna (Sweden)
- Stage: Series B
- Total Funding till date: $34M
- Investors: Industrifonden, Energy & Environment Investment and 6 Others
- Latest Funding Round: Series B, Mar 03, 2025, $*****
- Tracxn Score: 55/100 What is this?
- Competitors Rank: 12 of 489 Competitors
3. Cetasol
Provider of AI-powered solutions for maritime energy optimization and fuel monitoring. It offers iHelm, a system using AI to analyze vessel data for real-time operational recommendations, leading to reduced fuel consumption and emissions. A complementary product, CetaFuel, provides virtual fuel reading, accurately measuring fuel usage without requiring additional sensors. These solutions support voyage optimization, speed optimization, and regulatory compliance reporting, benefiting fleet management, crew, and business owners. The platform adapts to various vessel types and engine configurations, requiring minimal additional hardware.
Key facts about Cetasol
- Founded Year: 2021
- Location: Gothenburg (Sweden)
- Stage: Seed
- Total Funding till date: $2.71M
- Investors: Backing Minds, Shift4Good and 1 Other
- Latest Funding Round: Seed, Sep 24, 2025, $*****
- Tracxn Score: 53/100 What is this?
- Competitors Rank: 2 of 28 Competitors
4. X Shore
Manufacturer of electric boats The company develops various models of electric boats with features like electric motors, lithium-ion battery capacity, touchscreens, remote keys, and anti-theft solutions.
Key facts about X Shore
- Founded Year: 2016
- Location: Lidingo (Sweden)
- Stage: Series B
- Total Funding till date: $113M
- Investors: Team Europe, SEB and 7 Others
- Latest Funding Round: Series B, Apr 29, 2024, $*****
- Tracxn Score: 50/100 What is this?
- Competitors Rank: 10 of 133 Competitors
5. Seapilot
Developer of app-based navigation for ships. It provides users with commercial shipping standards for electronic navigation with digital nautical charts. Its features include chart location, social boating, and weather routing. Its app is available across Android and iOS platforms.
Key facts about Seapilot
- Founded Year: 2011
- Location: Danderyd (Sweden)
- Stage: Unfunded
- Tracxn Score: 35/100 What is this?
- Competitors Rank: 9 of 67 Competitors
Companies founded year-on-year in the Maritime Tech sector in Sweden
5 Maritime Tech startups in Sweden were founded in 2019 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | - |
2025 | - |
2024 | - |
2023 | 1 |
2022 | 1 |
2021 | 1 |
2020 | - |
2019 | 5 |
2018 | - |
2017 | 1 |
Stage-wise distribution of Maritime Tech sector companies in Sweden
Out of the total 36 Maritime Tech companies in Sweden, 10 have secured funding. Among them, 9 have reached Series A or higher, and 8 to Series B or beyond.
Founded - 36
Funded - 10
Series A+ - 9
Series B+ - 8
Series C+ - 6
Company Stage | No. of companies |
|---|---|
Founded | 36 |
Funded | 10 |
Series A+ | 9 |
Series B+ | 8 |
Series C+ | 6 |
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Funding Trends in the Maritime Tech sector in Sweden
Total funding year-on-year in the Maritime Tech sector in Sweden
The Maritime Tech sector in Sweden saw a total funding of more than $270M in the last 10 years. The most amount of funding was in 2024 at more than $70.1M.
- Total Funding
Year | Total Funding |
|---|---|
2025 | $44.8M |
2024 | $70.1M |
2023 | $48.9M |
2022 | $50M |
2021 | $46.7M |
2020 | $5.57M |
2019 | $1.67M |
2018 | $1.42M |
Recent Funding Rounds in Maritime Tech in Sweden
In the year 2025, till September 2025, Maritime Tech companies in Sweden have raised $44.8M in equity funding across 3 rounds.
In the same period last year (i.e. till April 2024), Maritime Tech companies in Sweden had raised $56.1M across 3 rounds.
So, 2025 has seen a 20.18% drop in funding in Maritime Tech companies in Sweden as compared to 2024.
Here are some recent, important funding rounds in Maritime Tech companies in Sweden:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 4477 | Sep 24, 2025 | and 2 more | |
Series C | 4719 | Aug 13, 2025 | ||
Series B | 4323 | Mar 03, 2025 | and 4 more | |
Series C | 7476 | Nov 22, 2024 | ||
Series B | 5482 | Apr 29, 2024 | - |
Top Investors in Maritime Tech in Sweden
EQT is the top investor in Maritime Tech companies in Sweden based on number of companies invested.
Here are some top investors in Maritime Tech companies in Sweden:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Stockholm (Sweden) | ||
Stockholm (Sweden) | - | |
- | ||
London (United Kingdom) | - | |
Stockholm (Sweden) |
M&A activity in Maritime Tech sector in Sweden
In the year 2021, till July 2021, 1 acquisition happened in Maritime Tech sector in Sweden.
Here are some recent, important acquisitions in Maritime Tech sector in Sweden:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Jul 06, 2021 | ||
Acqui-Hired | Jan 10, 2018 | ||
Business Acquisition | Dec 11, 2017 | ||
Acqui-Hired | Aug 11, 2016 | ||
Business Acquisition | Feb 2015 |
Acquisition trends in Maritime Tech sector in Sweden
Here are the acquisition trends in Maritime Tech sector in Sweden:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | - |
2024 | - |
2023 | - |
2022 | - |
2021 | 1 |
2020 | - |
2019 | - |
2018 | 1 |
2017 | 1 |
Colleges which produce the most Maritime Tech companies in Sweden
Companies founded by alumni from top colleges in the Maritime Tech in Sweden
Most number of Maritime Tech startups in Sweden have been founded by alumni from KTH Royal Institute of Technology, Technical University of Munich and The University of British Columbia.
College | No. of companies |
|---|---|
KTH Royal Institute of Technology | 1 |
Technical University of Munich | 1 |
The University of British Columbia | 1 |
Total funding in Maritime Tech companies founded by alumni from top colleges in Sweden
In the last 10 years, KTH Royal Institute of Technology and Technical University of Munich graduates' Maritime Tech companies in Sweden have raised the most funding among top colleges, and The University of British Columbia alumni are third.
College | Total Funding |
|---|---|
KTH Royal Institute of Technology | $116M |
Technical University of Munich | $116M |
The University of British Columbia | $2.71M |
Top News in Maritime Tech in Sweden
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X Shore Bowrider launched as new affordable-ish recreational electric boatElectrek•Nov 13, 2024•X Shore
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Candela: ‘World’s first’ electric hydrofoil ferry enters serviceOffshore Energy•Oct 30, 2024•Candela
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“Introducing the Candela C-8 Polestar Edition: A Stylish Electric Hydrofoil Boat with Polestar Technology”Global Village Space•Sep 15, 2024•Candela, Polestar
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Hydrofoiling elective boat startup Candela is finally on Australian watersStartup Daily•Jul 26, 2024•Candela
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Foiling electric powerboat Candela C-8 wins German Design Awardsrenewableenergymagazine.com•May 30, 2024•Candela
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Swedish manufacturer is latest to offer electric pleasure craft in SingaporeThe Business Times•Apr 25, 2024•Candela
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World’s first electric hydrofoiling passenger ferry soars into productionInceptive Mind•Nov 18, 2023•Candela
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