Kraken Technology, a Fareham, UK-based maritime defense startup, has raised $175 million in Series B funding, propelling the company to a $1 billion valuation and earning it unicorn status.
The round was led by DTCP with participation from the British Business Bank, NATO Innovation Fund, Rheinmetall, Inocea Group, HICO, Thesiger Capital Group, and BOK. The substantial funding reflects growing geopolitical demand for next-generation naval defense capabilities.
Kraken Technology develops advanced maritime defense systems, including unmanned surface vessels and integrated naval combat solutions. The company’s technology portfolio encompasses autonomous vessel operation, advanced sensor fusion, and AI-powered threat detection systems designed for modern naval warfare environments.
Defense Tech Draws Investor Attention
The Series B round is among the largest ever raised by a European maritime defense startup. The participation of the NATO Innovation Fund signals the strategic importance of Kraken’s technology to alliance defense priorities, while Rheinmetall’s involvement points to potential industrial collaboration between the two defense firms.
The investment comes at a time when European defense spending is accelerating, with NATO members committing to increased naval capabilities in response to evolving security threats. Kraken plans to use the capital to accelerate development of its autonomous vessel programs, expand its engineering team, and scale manufacturing capacity.
The company intends to use the funds to accelerate product development, expand its team, and scale manufacturing capabilities to meet growing demand from allied navies worldwide.
