Kraken Technology Group Raises $175 Million at $1 Billion Valuation

Kraken Technology, a British-founded maritime defence company led by Mal Crease and the team, has announced the closure of its Series B funding round led by DTCP and supported by other British and European backers, including the British Business Bank, NATO Innovation Fund (NIF), Rheinmetall, Inocea Group, as well as Venture Capital (VC) firms HICO, Thesiger Capital Group, BOKA Capital, Supernova Invest and Hakluyt Capital. Early investors in the company such as NIF, the UK’s National Security Strategic Investment Fund (NSSIF), and SmartCap, alongside VCs Notion Capital and Speedinvest, have now converted to equity following their participation in earlier funding rounds.

Kraken’s Series B follows a strong year marked by major contracts with the UK Ministry of Defence, NATO partners, and USSOCOM, with its platforms now supporting multiple active operations. The company has also expanded its global manufacturing footprint through partnerships with Rheinmetall, Anduril Industries, and Davie Shipbuilding, with further partnerships planned across the Middle East and Indo-Pacific regions.

Mal Crease said the funding will accelerate Kraken’s global expansion and support the deployment of hardened, mission-ready maritime capabilities for NATO and international partners at greater scale.

Ole Aguirre said Kraken is addressing a critical gap in the maritime domain by developing affordable, high-speed uncrewed vessels designed for mission-critical operations. Aguirre highlighted the company’s ability to respond quickly to NATO requirements and deliver autonomous maritime capabilities for securing waters, coastal infrastructure, and offshore assets.