British company Kraken Technology Group has closed a Series B funding round led by Digital Transformation Capital Partners (DTCP), securing US$175 million at a $1 billion valuation.
The funding is intended to support Kraken’s continued development of its uncrewed surface vessels and payload capabilities, while expanding localised manufacturing facilities around the world.
The round was supported by British and European backers, including the British Business Bank, NATO Innovation Fund (NIF), Rheinmetall, and Inocea Group, alongside venture capital firms HICO, Thesiger Capital Group, BOKA Capital, Supernova Invest, and Hakluyt Capital.
Early investors, including NIF, the UK’s National Security Strategic Investment Fund (NSSIF), and SmartCap, alongside Notion Capital and Speedinvest, have converted earlier positions into equity.
“Kraken is excited to be partnering with DTCP, leading such a prestigious group of European and international investors,” said Mal Crease, Founder and CEO of Kraken Technology Group.
“This significant funding round will accelerate Kraken’s global roll-out, enabling the deployment of hardened, reliable, mission-ready capabilities for NATO and its worldwide partners at an unprecedented scale in the maritime domain.”
The company has also established manufacturing partnerships to support global supply and localised production with Rheinmetall in Germany, Anduril Industries in the United States, and Inocea’s Davie Shipbuilding in Canada, with similar agreements planned for the Middle East and Indo-Pacific regions.
“The maritime domain is profoundly under-invested, and Kraken has taken a leading role in bringing affordable, mission-critical high-speed uncrewed vessels to the market in a very short time,” said Ole Aguirre, Partner at DTCP.
“Kraken genuinely understands the unique challenges around high-sea-state robotic operations and swiftly responded to NATO requirements, delivering immediate ‘mission-first’ maritime capabilities to secure our waters, our shores and our offshore installations.”
