Deep Tech Pioneer Secures Funding & Enters U.S. Maritime Market

Deep tech marine company Vessev has announced $19 million in Series A and follow-on financing to accelerate its expansion into the United States maritime market.

The capital round was led by Australia-based Blackbird Ventures, with participation from new investors GD1 and Rypples, alongside existing backers K1W1, Icehouse Ventures, Shasta Ventures, NZVC, and angel investors. The investment will support in-house serial production of Vessev’s VS-9 vessel line, expand its global go-to-market team, advance onboard software and telemetry platforms, accelerate larger vessel development, and facilitate future U.S. manufacturing plans.

“Hydrofoiling doesn’t just make boats better, it redefines what’s possible on water,” said Eric Laakmann, co-founder and CEO of Vessev. “By combining electric propulsion, advanced foiling systems, and software, we’re making vessels significantly more efficient, better for passengers and more scalable for operators. Lake Tahoe is an ideal place to demonstrate our technology and we’re excited to work with our first U.S. customer, FlyTahoe, to help communities rethink mobility on the lake, offering a faster, more reliable alternative.”

Vessev’s electric hydrofoiling system elevates vessels above the water surface to eliminate hull drag and produce virtually no wake. Inspired by America’s Cup racing designs, the foil systems dynamically adjust to changing water conditions up to 100 times per second, offering an onboard ride that is three times more efficient than conventional vessels. The 10-passenger, battery-electric VS-9 vessel is commercially certified in New Zealand and features an operational range of up to 40 nautical miles under full load and 50 nautical miles with a light load, having logged more than 11,000 nautical miles in commercial service.

As Vessev’s first U.S. commercial customer, sustainable water transit network operator FlyTahoe selected the VS-9 to help address traffic congestion around Lake Tahoe, where vehicle trips between the North and South Shore reach up to 20,000 per day.

“This technology unlocks an entirely new era of sustainable water transit – offering a faster alternative to Tahoe’s infamous traffic while helping preserve the lake’s famous clarity,” said Ryan Meinzer, Founder & CEO of FlyTahoe. “We’re proud to be Vessev’s first U.S. customer and to add the VS–9 to our growing fleet of electric hydrofoiling vessels.”

FlyTahoe’s proposed transit network is highlighted in the Lake Tahoe Regional Transportation Plan and remains subject to permits and approvals from the Tahoe Regional Planning Agency.

“Vessev is bringing world-class engineering from Apple, Tesla, the America’s Cup and Rocket Lab to a massive, long-stagnant industry,” said Phoebe Harrop Meadows, Partner at Blackbird. “Its combination of foiling technology and software unlocks lower operating costs while improving the passenger experience, and shows how waterways can function as near-zero-emission transit networks, the U.S. and beyond.”

To establish its commercial and policy footprint, Vessev is launching a series of on-water demonstrations across major U.S. locations. The activation begins in New York City ahead of New York Climate Week, followed by demonstrations at the Washington, D.C. Navy Yard on the Potomac River in late September in collaboration with the DC Mobility Innovation District, alongside activations at Lake Tahoe.

While expanding into the U.S., Vessev plans to partner with U.S.-based shipbuilders while maintaining in-house design, engineering, and manufacturing of its core technology stack, including foils, hardware, and flight control systems. Beyond its U.S. operations, the company is engaged in projects in Northern Ireland, Sydney, and Hobart to deploy electric hydrofoiling technology across municipal and commercial waterways.