VELA, a French startup revolutionising wind-powered maritime transport, has raised €40 million in funding. The round was led by Crédit Mutuel Impact (which invested in Quandela and Planity) 11th Hour Racing and BPI – French Public Investment Bank.
This financing will allow VELA to take a significant step in its development by officially launching the building of its first vessel with the Australian shipyard, Austal. It will also strengthen its sales and operations teams in France and the United States.
Sustainable maritime transportation solution
VELA was founded in 2022 by Pierre-Arnaud Vallon, Michaël Fernandez, François Gabart, Pascal Galacteros, and Thibault Charles. It been working to address the climate emergency by providing an innovative, sustainable, and socially responsible maritime transportation solution.
The company’s commitment goes beyond reducing CO2 emissions. With a desire to have a positive social impact, the company places seafarers at the heart of its project. With ships flying the French flag, VELA sailors will benefit from French social protection. It also provides shippers with a fast, reliable, and high-quality service.
“This major fundraising marks a key step in VELA’s development. We are proud to have brought together such a high-quality panel of Franco-American partners who share our ambition to make transport more sustainable, underlining the importance of our transatlantic vision,” said Michael Fernandez-Ferri, Managing Director and Chairman of VELA. “Together, we are entering a new era where capital serves the green revolution. This sailing cargo trimaran symbolises our vision of a world combining innovation, sustainability, and humanity. We warmly thank our financial partners for their trust and support.”
World’s largest sailing cargo
By building the world’s largest sailing wind-powered cargo Trimaran, VELA is making a grand entrance into the world of maritime transport. Drawing inspiration from air freight, this unique vessel, nicknamed the “L’avion des Mers” – The Sea Plane, will offer unprecedented fast transit times.
Benefiting from technology transfers from offshore racing, it will allow transatlantic crossings of less than 15 days (loading – crossing – unloading) 100% under sail while guaranteeing exceptional reliability of deadlines and high standards for transport quality.
This is a unique alternative to transport valuable products such as industrial parts, healthcare equipment, cosmetics, or pharmaceuticals so they can avoid having inventory on the water for so long.
As per the company Trimaran’s holds will be maintained at a controlled temperature to meet the needs and constraints of the most demanding clients in fields such as pharmaceuticals, thus ensuring the safety and integrity of high-value-added transported goods. It is said to use renewable energies with over 3,230 sq ft of photovoltaic panels and two hydro-generators.
VELA is positioning itself on the first maritime line between France’s Atlantic coast and the United States’s East Coast. The line will begin operations in the second half of 2026 and offer a fast, reliable, secure, and decarbonised connection for high-value-added goods.
VELA’s ambition doesn’t stop there. At least 4 additional ships are in preparation for arrival by 2027-2028, which will allow for increased departure frequency and reach a rhythm of one departure per week.
Investors’ views
Sabine Schimel, Managing Director at Crédit Mutuel Impact said: “The financing of the blue economy, and more specifically of the decarbonisation of the maritime sector, is a major priority of the Environmental and Solidarity Revolution Fund. We are very proud to back the cofounders of VELA in building this first sailing cargo trimaran and contributing to the emergence of such a French technology field of excellence.”
Jeremy Pochman, CEO and Co-Founder of 11th Hour Racing said: “At 11th Hour Racing, we are deeply committed to advancing sustainable solutions that transform industries and protect our ocean. This investment in innovative, sail-based shipping technology aligns with our mission by reducing carbon emissions and improving efficiency in global supply chains. We believe that through collaboration and innovation, we can pave the way for a more sustainable future for both the maritime sector and our planet.”
Jean-Marie Fougeray, Investment Director at Bpifrance said: “With the shipbuilding of the largest sailing cargo trimaran in the world, VELA addresses the major challenge of decarbonising the maritime sector while offering an innovative, sustainable, and high-quality transportation solution. We are very happy to hold VELA as our first investment for the maritime sector decarbonisation fund. This project perfectly aligns with the ambitions of the Climate Plan of Bpifrance and with the thesis of this new fund: foster the decarbonisation of maritime freight with complementary partners.”
