Kraken Technology Raises $175 Million at Over $1 Billion Valuation
Updated
Updated · Bloomberg · Jul 9
Kraken Technology Raises $175 Million at Over $1 Billion Valuation
2 articles · Updated · Bloomberg · Jul 9
Summary
$175 million in new funding has pushed British autonomous boat developer Kraken Technology Group above a $1 billion valuation, making it one of Europe’s latest defense unicorns.
DTCP led the round, with backing from the NATO Innovation Fund and Rheinmetall, underscoring investor appetite for defense technology tied to autonomous maritime systems.
Kraken was founded in 2021 by former speedboat racer Mal Crease, who built the company around uncrewed vessel development.
The raise adds to a broader wave of European defense startup funding as investors and strategic backers pour money into military and dual-use technologies.