Kraken Technology, a Fareham-based maritime defence technology company that specialises in uncrewed autonomous maritime platforms, has raised a $175m (£130m) Series B round.
The funding will support Kraken’s continued development of its uncrewed surface vessels and payload capabilities, in addition to expanding localised manufacturing facilities around the world.
The Series B round follows a successful year for Kraken, during which it secured significant contracts from the UK Ministry of Defence, NATO European partners and USSOCOM, with its platforms now deployed in support of multiple ongoing conflicts.
The round was led by DTCP and supported by other British and European backers, including a £27m investment from the British Business Bank. NATO Innovation Fund (NIF), Rheinmetall, Inocea Group as well as VC firms HICO, Thesiger Capital Group, BOKA Capital, Supernova Invest and Hakluyt Capital also participated.
Early investors in the company such as NIF, the UK’s National Security Strategic Investment Fund (NSSIF) and SmartCap, alongside VCs Notion Capital and Speedinvest, have also now converted to equity following their participation in earlier funding rounds.
“Kraken is excited to be partnering with DTCP, leading such a prestigious group of European and international investors,” says 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.”
