Vessev Raises $19M as Electric Hydrofoils Enter the U.S.

Vessev has raised $19M in Series A and follow-on financing as the New Zealand electric-hydrofoil company enters the United States, names FlyTahoe as its first U.S. commercial customer, and prepares to move from limited production toward serial manufacturing.

The financing was led by Blackbird, with GD1 and Rypples joining as new investors. K1W1, Icehouse Ventures, Shasta Ventures, NZVC, and existing angel investors also participated. Vessev said the capital will support production, global commercial expansion, onboard software and telemetry, larger vessels, and plans for U.S. manufacturing.

The round moves Vessev into a more demanding phase of company building. Its VS-9 has already accumulated operating evidence in New Zealand. The American market will test whether that evidence travels across local permitting, marina infrastructure, passenger operations, maintenance, and the economics of an operator that needs the schedule to hold.

What Vessev Raised

Vessev announced the $19M financing on August 20, 2026. The company described the capital as Series A and follow-on financing rather than one newly priced round with fully disclosed terms.

Blackbird led the financing. Vessev identified GD1 and Rypples as new investors and K1W1, Icehouse Ventures, Shasta Ventures, NZVC, and existing angels as participants. It did not disclose a valuation, ownership terms, the amount allocated to each financing component, or a reconciled lifetime-funding total.

That language matters for the capital record. The defensible number is $19M of company financing. The announcement does not support inventing a separate Series A amount or treating every named participant as an equal investor in the round.

How the VS-9 Works

Vessev builds electric hydrofoiling passenger vessels. The VS-9 uses foils beneath the surface to lift the hull above the water as speed increases, reducing drag and allowing the vessel to travel more efficiently than a conventional displacement hull.

The company says the VS-9 has completed more than 11,000 nautical miles of operations in New Zealand and obtained commercial certification there. Those are company-reported operating milestones, but they move the discussion beyond a prototype filmed during ideal conditions.

Hydrofoiling can reduce energy use and improve ride quality. It also adds technical and operational demands around control systems, foil durability, maintenance, docking, passenger loading, batteries, charging, and the reliability required by scheduled transportation.

Vessev's product therefore has to succeed as both a vessel and a service asset. Operators do not buy a hydrodynamic achievement. They buy usable capacity, predictable maintenance, trained crews, regulatory acceptance, and enough uptime to support a real route.

Why FlyTahoe Is the First U.S. Test

FlyTahoe is Vessev's first announced U.S. commercial customer. The companies intend to introduce hydrofoiling passenger service on Lake Tahoe, subject to the permits and approvals required by the Tahoe Regional Planning Agency and other relevant authorities.

The regulatory condition is not a footnote. It is part of the market-entry thesis. Passenger transportation on a protected lake brings environmental review, operating rules, marina requirements, local stakeholders, weather, seasonal demand, and a route schedule that cannot be simulated in an engineering lab.

Vessev is also taking the VS-9 through a U.S. showcase that includes New York, Washington, D.C., and Lake Tahoe. Demonstrations can create customer and policy interest, but the lasting evidence will come from a permitted service that runs repeatedly under an operator's control.

What the $19M Is Expected to Fund

Vessev said the financing will help expand serial production and grow its global go-to-market organization. The company also plans to invest in onboard software and telemetry, develop larger vessels, and establish a U.S. manufacturing footprint.

Each use of proceeds addresses a different constraint. Production investment is about repeatability and unit economics. Commercial hiring is about turning demonstrations into orders. Telemetry can improve operations, maintenance, and fleet learning. Larger vessels expand the addressable route network while increasing certification and manufacturing complexity.

U.S. manufacturing would create another layer of capital and execution requirements around suppliers, facilities, quality systems, labor, and local production volume. The financing gives Vessev more room to build that system, but it does not settle where, when, or at what scale American manufacturing will begin.

Leadership and the Investor Thesis

Vessev is led by CEO Eric Laakmann, a former Apple Special Projects Group program lead. The company was founded in Auckland and has developed the VS-9 around the belief that electric propulsion and hydrofoiling can make short-distance marine transportation cleaner and more commercially useful.

Blackbird's lead investment puts a regional venture firm behind an internationally ambitious hardware company at the point where certification must become production and production must become customer operations. GD1 and Rypples add new capital relationships while the returning investors preserve continuity.

The investor thesis depends on more than demand for clean transportation. It depends on Vessev manufacturing vessels at repeatable cost, supporting operators, navigating local regulation, and proving that the energy and maintenance profile can outperform incumbent alternatives over time.

What Comes Next for Vessev

The milestones to watch are the FlyTahoe permitting process, the timing of U.S. commercial service, new customer commitments, serial-production output, and evidence that the VS-9's operating record can be repeated outside New Zealand.

Vessev's 11,000-plus nautical miles provide a useful base. The $19M financing adds capacity. The American market now introduces the customers, regulators, infrastructure, and operating conditions that decide whether an electric hydrofoil becomes a fleet product rather than an impressive vessel.

The technology already knows how to lift the hull above the water. The company still has to carry everything underneath it.