Kraken Technology raises Series B funding for autonomous vessels

Kraken Technology Group, a Fareham, U.K.-based company founded in 2020, has raised $175 million in a Series B round led by Digital Transformation Capital Partners. The financing values the company at $1 billion and is intended to speed its global rollout, expand production, and continue development of uncrewed surface vessels, subsurface vessels, and payload capabilities.

Kraken develops modular maritime platforms for defense applications. Its lineup includes the K3 SCOUT modular uncrewed surface vessel, the K4 MANTA stealthy uncrewed subsurface vessel, and the K5 Kraken high-payload surface vessel. The company says these platforms can support data collection, precision strikes, logistics, and anti-submarine warfare.

The funding follows a year in which Kraken secured contracts from the U.K. Ministry of Defence, NATO European partners, and U.S. Special Operations Command. It said its platforms have been deployed in support of multiple ongoing conflicts. Kraken also cited manufacturing partnerships intended to provide global supply and localized production: Rheinmetall in Germany, Anduril Industries in the United States, and Inocea’s Davie Shipbuilding in Canada. It plans similar partnerships in the Middle East and Indo-Pacific.

Other British and European investors named in the round include the British Business Bank, NATO Innovation Fund, Rheinmetall, and Inocea Group. Additional participants included HICO, Thesiger Capital Group, BOKA Capital, Supernova Invest, Hakluyt Capital, the U.K. National Security Strategic Investment Fund, SmartCap, Notion Capital, and Speedinvest. PJT Partners was Kraken’s exclusive financial adviser, while Clifford Chance served as legal counsel.