Industrial
Kraken Technology Group Ltd. has raised $175 million in Series B funding, reaching a valuation of $1 billion, to accelerate deployment of its autonomous maritime platforms for defense applications. The investment was led by Digital Transformation Capital Partners GmbH (DTCP), with participation from other British and European investors.
Autonomous vehicles are proliferating, particularly in maritime and defense applications. Kraken Technology, founded in 2020 and based in Fareham, U.K., builds modular maritime platforms including the K3 SCOUT modular uncrewed surface vessel (USV), the K4 MANTA stealthy uncrewed subsurface vessel (USSV), and the K5 Kraken high-payload USV. The company is not to be mistaken for Kraken Robotics.
“This significant funding round will accelerate Kraken’s global rollout, enabling the deployment of hardened, reliable, mission-ready capabilities for NATO and its worldwide partners at an unprecedented scale in the maritime domain,” stated Mal Crease, founder and CEO of Kraken Technology.
Kraken Technology noted that its Series B round followed a year in which it secured several contracts from the U.K. Ministry of Defence, NATO European partners, and USSOCOM (U.S. Special Operations Command). The company’s platforms have been deployed in support of multiple ongoing conflicts. Its USVs and USSVs are capable of data collection, precision strikes, logistics, and anti-submarine warfare. Kraken also cited manufacturing partnerships with Rheinmetall in Germany, Anduril Industries in the U.S., and Inocea’s Davie Shipbuilding in Canada, and plans to announce similar partnerships in the Middle East and Indo-Pacific regions.
Source: The Robot Report