This week Laakmann also revealed his firm\u2019s first American customer: FlyTahoe, which operates on Lake Tahoe in California.<\/p>\n
\u201cAs part of its US market entry, Vessev has shipped the Auckland-built VS\u20139, Kermadec, to the United States where it will debut at New York Climate Week, followed by an event in Washington, DC, and on-water demonstrations at Lake Tahoe later this year,\u201d Laakmann said.<\/p>\n
\u201cThe US is a key market for us. We know there is demand there, and there is a real appetite for a better way to move people.\u201d<\/p>\n
Boosting staff and capacity<\/p>\n
Vessev has increased staff at its East Tamaki boatyard from 14 to 58 over the past two years. The hires include America\u2019s Cup and Tesla alumni.<\/p>\n
Vessev designs and builds all core technology in house, from hulls and foils to the hardware and flight control systems, Laakmann says.<\/p>\n
Current production capacity is booked out for the next two years, Laakmann says.<\/p>\n
The new funds will be used to expand capacity to produce a new boat every five weeks. Production and sales staff are being hired.<\/p>\n
A larger model, the VS-12 \u2013 which can accommodate up to 30 passengers \u2013 is in the works Fly Derwent in Tasmania.<\/p>\n
Vessev and ferry operator Fullers also has the VS-19, which would hold up to 100, at the drawing board stage.<\/p>\n
Laakmann says his firm\u2019s America\u2019s Cup-inspired hydrofoiling technology can support a vessel up to 32m.<\/p>\n
The $32.5m raise was led by Australasian venture capital firm Blackbird, which now holds a 25% stake \u2013 making it the largest shareholder ahead of existing investors Icehouse Ventures (20%) and Sir Stephen Tindall\u2019s K1W1 (17%), which also chipped in more funds for the latest raise.<\/p>\n
Vessev is bringing world-class engineering from Apple, Tesla, the America’s Cup and Rocket Lab to a massive, long-stagnant industry,” says Blackbird Ventures partner Phoebe Harrop Meadows. “Its combination of foiling technology and software lowers operating costs while improving the passenger experience.” <\/p>\n
The Series A round was also supported by new investors Rypples (\u201can ocean-focused impact investment firm\u201d) and Global From Day 1 (which recently revealed a $56.7m first close<\/a> for its latest fund, fuelled by Golden Visa holders), plus existing backers Shasta Ventures and NZVC, founded by transplanted Ukranian Mark Pavlyukovskyy.<\/p>\n Council-controlled Auckland Transport has recently turned its back on its putative shift to electric ferries, ordering eight new diesels<\/a>, with more in the offing.<\/p>\n Fullers has argued that electric boats are cheaper over their lifetime, as well as being quieter and having no emissions. But Auckland Mayor Wayne Brown told<\/a> the Herald that lower-tech diesel vessels had half the upfront cost.<\/p>\n Laakmann declined to comment on that front.<\/p>\n Vessev was the brainchild of Max Olson, co-founder and original chief technology officer for smart cow-collar firm Halter.<\/p>\nThe Vessev VS-9’s hydrofoiling technology was adapted from America’s Cup yachts. <\/p>\n
Vessev chief executive Eric Laakmann. Photo \/ Michael Craig<\/p>\n