Wireless optical communications are emerging as a viable solution for high-speed data transmission over short ranges in the ocean, complementing mainstream acoustic communication systems that operate over much longer ranges, but at lower data rates. The current drive to develop cooperative autonomous vehicular systems to carry out surveying and other complex missions in the ocean critically depends on the existence of such communication links to share sensory and coordination information. This paper presents a compact, low power consumption, cost-efficient, and lightweight optical modem designed for fast data transmission between MEDUSA underwater vehicles at ranges on the order of 10 m. The transmitter uses LEDs for ON-OFF keying, while the receiver front-end adopts a transimpedance architecture with a photodiode detector. This simplistic transmission and reception technique reduces the overall design and hardware complexities compared to, e.g., laser diodes and photomultiplier tubes. The LEDs are arranged in a circular array, with a photodiode at the centre to enable half-duplex operation. These modems are designed to achieve data rates of 20–200 kb/s over short-range, line-of-sight, configurations. A transparent casing is customised to fit the Medusa vehicles, with proper alignment for inter-vehicle communication when they move in formation.