Slovenian startup Quadrofoil has snagged €3 million in investment to boost production of an eco-friendly watercraft.
The money was invested by Switzerland’s AlpVent AG.
Founded in 2011, Quadrofoil produces small, electric vessels, which use hydrofoil technology to reach speeds of 40 kilometres an hour.
AlpVent AG says that Quadrofoil could lead a breakthrough in the lucrative travel market.
So far, Quadrofoil has received more than 1,300 requests from 127 countries and limited production capability means it cannot meet demand.
Quadrofoil is more than just a start-up with one fancy product and a globally recognizable brand,” says Aleksander Kopač, AlpVent AG President & CEO.