French startup VELA, launched in November 2022, has successfully raised €40 million ($43 million) in a significant funding round. The capital will enable VELA to construct the world’s largest sailing cargo trimaran, aimed at providing a sustainable transatlantic cargo service for a variety of products, including pharmaceuticals, industrial parts, healthcare equipment, and cosmetics.
This financing round was led by Crédit Mutuel Impact, 11th Hour Racing, and BPI – French Public Investment Bank. VELA’s Franco-American partners share the company’s commitment to making transportation more sustainable. The innovative trimaran design is expected to offer a faster alternative for companies looking to minimize inventory transit times.
Leveraging technology from offshore racing, VELA aims to achieve an ocean transit time of under 15 days, significantly faster than the 20-day average for large containerships. The trimaran will feature temperature-controlled cargo holds to ensure the safety and integrity of high-value goods.
The vessel will measure 220 feet (67 meters) long, with a 200-foot (61 meters) air draft and a width of 82 feet (25 meters). Constructed from aluminum using Austal’s expertise, the trimaran will also incorporate carbon masts. It will be equipped with over 3,230 square feet of photovoltaic panels and two hydro-generators, providing a cargo capacity equivalent to 51 shipping containers.
After an international tender that attracted over 30 shipyards, VELA selected Austal, known for its multihull and aluminum construction, with support from BRS Shipbrokers. The first VELA Trimaran will be built in Balamban, Cebu, at Austal Philippines, with delivery scheduled for the second half of 2026. Notably, French companies will handle 30% of the construction, including rigging, sails, and hydro-generators, reinforcing the expertise of the national sailing industry. The vessel will be registered in France.
“Austal is excited to partner with VELA on this groundbreaking project,” said Austal CEO Paddy Gregg. “Our expertise in multihull design and aluminum shipbuilding, combined with VELA’s innovative vision, will set new standards for speed, reliability, and sustainability in transatlantic shipping.”
The current funding will allow VELA to officially commence construction of its first vessel and strengthen its sales and operations teams in France and the United States. The company plans to operate between the French Atlantic coast and the U.S. East Coast, with operations expected to begin in the latter half of 2026. VELA also aims to have at least four additional ships in service by 2027-2028, targeting a weekly departure frequency.
