MobyFly, a Swiss firm specializing in hydrofoil technology, has garnered significant attention following a successful Series A funding round that raised CHF 10.1 million. With a commitment to designing zero-emission electric ferries, MobyFly positions itself as a key player in the evolving landscape of maritime transport solutions. The company aims to capitalize on the urgency for environmentally friendly transport options as cities worldwide seek sustainable solutions to reduce carbon emissions. The firm’s technology promises high-speed travel without the typical environmental disturbances associated with traditional diesel ferries.
In 2022, MobyFly had announced its intention to target international markets, but faced challenges in scaling production. Previously, the focus was on engineering advancements in hydrofoil technology, yet there were limitations in bringing the products to market swiftly. With the recent funding and strategic shifts, MobyFly’s focus on increasing production capacity and forming new strategic partnerships reflects a more robust approach to market entry and technological advancement.
Why Does MobyFly Need This Funding?
The capital from this funding round will allow MobyFly to expand its engineering and R&D capabilities, paving the way for the market launch of its zero-emission electric fast ferries. The company plans to accelerate the industrialization of its technology, with an emphasis on international market expansion in Europe, the Middle East, and beyond.
What Sets MobyFly’s Hydrofoil Boats Apart?
MobyFly’s hydrofoil boats utilize specialized electronics and sophisticated flight control software, enabling operations at speeds over 70 km/h without producing waves, noise, or pollution. The vessels claim up to an 80% reduction in energy consumption compared to conventional ferries. A primary appeal is the lowered operational costs, estimated at a 60% saving over traditional diesel options. These innovations aim not only to meet environmental standards but also to provide greater returns on investments for operators and municipalities.
The leadership team at MobyFly brings diverse expertise. Sue Putallaz, CEO, guides the company’s strategic ambitions, while Anders Bringdal, a distinguished windsurfing champion, channels his experience into advancing new foil technology. Coupled with the technical prowess of Ricardo Bencatel, an expert in flight control systems, MobyFly asserts a strong leadership team to steer their innovations to success.
Strategic partnerships bolster MobyFly’s R&D and production capabilities. The startup collaborates with INESC TEC from Portugal on research developments, while also partnering with Catana Group Portugal for production efficiency. Battery technology advances with Corvus and hydrogen-powered vessel development with EODev are crucial in MobyFly’s broader roadmap.
Sue Putallaz remarked on the funding’s impact by stating,
“This funding round marks a decisive milestone for MobyFly. With the support of Crédit Mutuel Alliance Fédérale and our other investors, we are entering a new phase of development.”
Sabine Schimel of Crédit Mutuel Impact noted the alignment of MobyFly’s mission with sustainable maritime endeavors. Both see this investment as pivotal in propelling MobyFly’s capabilities forward.
With commercial launch targets set for fall 2025, following the development of the MBFY10 prototype, MobyFly is positioned to enhance passenger transport efficiency through advanced maritime technology. Their approach not only answers the need for emissions reduction but also emphasizes operational efficiency.
As maritime transport continues to play a key role in urban mobility, MobyFly’s efforts reflect broader industry trends toward sustainable solutions. Their initiatives underscore a shift towards clean energy and innovative technology in maritime logistics, aiming to redefine the standards of water-based passenger transport.
