Kraken Technology Group, a British maker of uncrewed vessels, has raised $175 million in Series B funding, pushing its valuation above $1 billion.
The funding round was led by DTCP, with participation from the British Business Bank, NATO Innovation Fund, and Rheinmetall.
This investment comes after a year in which Kraken secured major contracts with the UK Ministry of Defence, NATO, and USSOCOM.
Kraken Technology Group, a British maritime defence company, closed a $175 million Series B round that values the company at over $1 billion. The new funding will help develop uncrewed surface vessels, improve payload capabilities, and quickly expand manufacturing facilities worldwide.
Digital Transformation Capital Partners led the Series B, with support from the British Business Bank, NATO Innovation Fund, Rheinmetall, Inocea Group, HICO, Thesiger Capital Group, BOKA Capital, Supernova Invest, and Hakluyt Capital.
