Auckland electric boat maker Vessev has raised NZ$32.6 million in a Series A led by Blackbird to scale production of its hydrofoiling passenger ferry and expand into the US, 1News and Startup Daily reported in August 2026.
Passenger ferries burn large amounts of diesel for the distances they travel, and batteries have struggled to replace it because pushing a hull through water takes so much energy. Vessev’s approach is to lift the hull out of the water altogether, cutting drag enough for a battery to give a commercially useful range.
How the VS-9 works
The VS-9 is a nine metre battery-electric vessel that rides on carbon fibre foils. Once it reaches speed, the foils lift the hull clear of the surface, and the system adjusts to changing conditions up to 100 times a second, according to 1News. Vessev says the design is about three times as efficient as conventional vessels.
The boat carries up to 10 passengers, reaches 25 knots (about 46km/h) and has a range of up to 50 nautical miles with a light load. Vessev’s boats have logged more than 11,000 nautical miles across New Zealand and Australia.
One VS-9 already operates commercially with Fullers360, carrying passengers from Auckland’s Viaduct onto the Waitematā Harbour. 1News described it as the world’s first certified electric hydrofoiling vessel in a commercial ferry fleet.
The founders
Vessev was founded in Auckland in 2017. Co-founder and chief executive Eric Laakmann, who was born in Seattle, previously worked on three generations of the Apple Watch before sailing about 30,000 nautical miles to New Zealand and settling there. Chief technology officer Max Olson, an Aucklander, previously co-founded agtech company Halter.
The raise
Blackbird led the round, reported as about A$27 million. GD1 and Rypples joined as new investors, alongside existing backers including K1W1 and Icehouse Ventures, according to Startup Daily.
Vessev plans a production line at its Auckland facility capable of 10 boats a year, with a target of one VS-9 every five weeks by 2027.
Where it goes next
California operator FlyTahoe has ordered multiple vessels for a proposed passenger network on Lake Tahoe, making it Vessev’s first US customer. A VS-9 has shipped to the US for demonstrations in New York and Washington before heading to Lake Tahoe. Projects are also underway in Sydney, Perth and Hobart, where operator Fly Derwent has reportedly doubled its order to 10 vessels.
Jack’s take
Electric cars got the headlines, but boats are where fuel use per kilometre really hurts. Lifting the hull out of the water is the trick that makes batteries work on a ferry. A Kiwi company selling into Australian harbours and the US is the kind of export story ANZ needs more of.