- 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.
Earlier investors, such as the NATO Innovation Fund, the UK’s National Security Strategic Investment Fund, SmartCap, Notion Capital, and Speedinvest, converted their previous investments into equity. PJT Partners acted as financial advisor, and Clifford Chance provided legal counsel.
From powerboat racing to naval defence
Mal Crease, Kraken’s founder and CEO, spent 20 years in offshore powerboat racing, including with Vector Racing, which set world speed and endurance records. He moved the company into defence technology in 2020. Kraken’s headquarters are in Segensworth, Fareham, UK.
Kraken builds uncrewed surface and subsurface vessels for defence, security, and commercial customers. Its products include the K3 SCOUT, a low-cost modular vessel used in NATO exercises; the K4 MANTA, which can operate on the surface and underwater; and the K5 KRAKEN, a precision-engagement gunship.
Kraken’s main competitor is Saronic, an Austin-based uncrewed-vessel maker that raised $1.75 billion in Series D funding at a $9.25 billion valuation in April 2026 and operates its own shipyards.
Unlike Saronic, Kraken works with established manufacturers Rheinmetall in Germany, Anduril Industries in the US, and Inocea’s Davie Shipbuilding in Canada. Venture capital investment in defence technology hit a record $49.1 billion in 2025, according to Tech Funding News, showing strong interest in autonomous systems.
Expanding manufacturing across three continents
This funding comes after contracts with the UK Ministry of Defence, NATO’s European partners, and USSOCOM. Kraken’s platforms are already being used in several active conflicts. The company plans to pursue more partnerships in the Middle East and the Indo-Pacific.
“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,” says Crease.
“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-seas robotic operations and swiftly responded to NATO requirements, delivering immediate ‘mission-first’ maritime capabilities to secure our waters, our shores and our offshore installations,” adds Ole Aguirre, partner at DTCP.
The founder, who spent his career setting speed records on open water, now thinks that speed and modularity, not just size, will define naval power in contested seas. The industry will be watching to see if this approach works as well-funded US competitors like Saronic move further into Europe.
