The round was led by Digital Transformation Capital Partners and supported by British and European backers. Investors included the British Business Bank, NATO Innovation Fund, Rheinmetall, Inocea Group, HICO, Thesiger Capital Group, BOKA Capital, Supernova Invest and Hakluyt Capital.
Kraken said early investors including the NATO Innovation Fund, the UK’s National Security Strategic Investment Fund, SmartCap, Notion Capital and Speedinvest have converted to equity following their participation in earlier funding rounds. The Series B follows a year in which Kraken secured several significant contracts from the UK Ministry of Defence, NATO European partners and USSOCOM.
The company said its platforms are now deployed in support of multiple ongoing conflicts. It has also established manufacturing partnerships to support global supply and localised production, including with Rheinmetall in Germany, Anduril Industries in the United States and Inocea’s Davie Shipbuilding in Canada.
Kraken said it is also preparing to announce similar partnerships in the Middle East and Indo-Pacific regions. The funding round is intended to support rapid capability development and international manufacturing expansion.
“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,” said Mal Crease, Founder and CEO of Kraken Technology Group.
Ole Aguirre, Partner at DTCP, said: “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,” Aguirre said. PJT Partners acted as exclusive financial adviser and Clifford Chance acted as legal counsel to Kraken in connection with the Series B.
