British firm Kraken raised $175M (€152.9M), led by DTCP, at a $1bn valuation to build uncrewed war boats for NATO, the US and UK.

British uncrewed vessel maker Kraken Technology Group raised $175M led by DTCP, crossing the $1B valuation mark with backing from NATO Innovation Fund and Rheinmetall.

It says it will use the funding to develop its uncrewed surface vessels while expanding manufacturing facilities.