British maritime defense technology company Kraken Technology Group announced it has raised $175 million in Series B funding at a $1 billion valuation to accelerate development of its uncrewed surface vessels (USVs), expand payload capabilities, and scale localized manufacturing operations worldwide.
The funding round was led by Digital Transformation Capital Partners (DTCP) and included participation from the British Business Bank, NATO Innovation Fund (NIF), Rheinmetall, Inocea Group, HICO, Thesiger Capital Group, BOKA Capital, Supernova Invest, and Hakluyt Capital.
Several existing investors—including NATO Innovation Fund, the UK’s National Security Strategic Investment Fund (NSSIF), SmartCap, Notion Capital, and Speedinvest—also converted earlier investments into equity as part of the financing.
The funding follows a year of significant momentum for Kraken. The company secured major defense contracts from the UK Ministry of Defence, NATO partners across Europe, and USSOCOM, with its maritime platforms now supporting multiple active conflicts.
Kraken has also expanded its global manufacturing footprint through partnerships with Rheinmetall in Germany, Anduril Industries in the United States, and Inocea’s Davie Shipbuilding in Canada. The company said it plans to announce additional manufacturing partnerships in the Middle East and Indo-Pacific regions.
The new capital will be used to accelerate product development, increase production capacity, and support the global deployment of its autonomous maritime defense systems.
KEY QUOTES:
“Kraken is excited to be partnering with DTCP, leading such a prestigious group of European and international investors. 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.”
Mal Crease, Founder and CEO of Kraken Technology Group
“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. 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. We have high confidence in Kraken and could not be more excited about the opportunities ahead of us.”
Ole Aguirre, Partner at Digital Transformation Capital Partners (DTCP)
