Kraken Technology Raises $175M Series B at Reported $1B Valuation

British maritime defence startup Kraken Technology Group closed a $175 million Series B on July 9, 2026, led by DTCP, minting the Fareham-based uncrewed vessel maker as a unicorn. The round drew Rheinmetall, the NATO Innovation Fund and the British Business Bank. Proceeds fund vessel and payload development plus international manufacturing expansion as Europe races to build sovereign naval capability.

Published: July 13, 2026 By Marcus Rodriguez, Robotics & AI Systems Editor Category: AI in Defence

Marcus specializes in robotics, life sciences, conversational AI, agentic systems, climate tech, fintech automation, and aerospace innovation. Expert in AI systems and automation

Kraken Technology Raises $175M Series B at Reported $1B Valuation

LONDON, Monday, July 13, 2026 — Kraken Technology Group has raised $175 million in a Series B round at a reported $1 billion valuation, according to the company, minting one of Britain's newest maritime defence unicorns. The round was led by Digital Transformation Capital Partners (DTCP). Kraken closed the round on July 9, 2026, valuing the Fareham, UK-based firm at $1 billion. The proceeds fund development of its uncrewed surface vessels and payload systems plus international manufacturing expansion.

Funding at a Glance

Round	Date	Amount	Lead Investors	Valuation
Series B	July 9, 2026	$175 million	DTCP (lead); British Business Bank, NATO Innovation Fund, Rheinmetall	$1 billion

Key Takeaways

Kraken becomes a $1 billion maritime defence company on the back of a $175 million raise led by DTCP.
Strategic backers include German defence prime Rheinmetall, the NATO Innovation Fund and the state-owned British Business Bank.
Early investors NSSIF, SmartCap, Notion Capital and Speedinvest converted prior positions into equity.
Kraken scales through manufacturing partners rather than owning shipyards, contrasting with US rival Saronic.

Investor Context

DTCP led the raise, supported by the British Business Bank, the NATO Innovation Fund, Rheinmetall, Inocea Group and venture firms HICO, Thesiger Capital Group, BOKA Capital, Supernova Invest and Hakluyt Capital. Earlier investors including the UK's National Security Strategic Investment Fund, SmartCap, Notion Capital and Speedinvest converted their positions to equity as part of the round.

Ole Aguirre, a partner at DTCP, framed the deal as a bet on an under-funded domain. Aguirre said the maritime domain is "profoundly under-invested" and praised Kraken's grasp of high-sea-state robotic operations. Founder and CEO Mal Crease said the round would accelerate Kraken's global roll-out for NATO and its partners. The British Business Bank contributed a £27 million investment to the round.

Competitive Landscape

Kraken's model diverges sharply from its best-funded rival. Where Austin-based Saronic runs its own shipyards, Kraken builds through established manufacturers. Kraken's main competitor, Saronic, raised $1.75 billion at a $9.25 billion valuation in March 2026. Kraken instead partners with Rheinmetall in Germany, Anduril Industries in the US and Inocea's Davie Shipbuilding in Canada.

Company	Total Funding	Key Investors	Market Focus	Latest Round
Kraken Technology	$175M Series B (round)	DTCP, Rheinmetall, NATO Innovation Fund	High-speed autonomous USVs	Series B, Jul 2026
Saronic (US)	~$2.58B	Kleiner Perkins, a16z, 8VC	Autonomous surface vessels, own shipyards	$1.75B Series D, Mar 2026
Helsing (Germany)	Multiple mega-rounds	Prima Materia, General Catalyst	AI software, drones, autonomy	€600M Series D, 2025

Saronic closed its $1.75 billion Series D on March 31, 2026, at a reported $9.25 billion valuation, led by Kleiner Perkins, according to the company. Helsing's €600 million Series D in June 2025 pushed its valuation to around €12 billion (roughly $14 billion), according to the Financial Times; Helsing subsequently raised a reported $1.2 billion at an $18 billion valuation in May 2026, according to the Financial Times.

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What the Company Does

Kraken designs, develops and manufactures high-performance autonomous uncrewed surface vessels and subsurface vessels. The company builds modular, low-signature, carbon-fibre composite boats engineered for rough seas. Its portfolio spans the K3 Scout USV, the K4 Manta surface-subsurface vessel and the K5 Kraken maritime engagement platform.

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The firm was founded in 2020 by Crease, a former speedboat racer. The 8.4m K3 Scout Medium carries roughly 600kg and can reach speeds around 55 knots. Kraken adopted a full Modular Open Systems Architecture from the outset for interoperability.

Why It Matters

The raise follows a fast run of contract wins. Kraken secured a £12.3 million Royal Navy contract for 20 K3 Scout USVs and a $49 million USSOCOM Other Transaction Authority contract in November 2025. Its platforms are now deployed in support of multiple ongoing conflicts.

Demand context is stark. European defence, security and resilience startups raised a record $8.7 billion in 2025, up 55% year on year. For NATO buyers, Kraken's partner-led model offers a route to volume production without waiting for a startup to pour steel itself. The question is whether that approach can outpace vertically integrated US rivals moving into Europe.

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Forward Outlook

Kraken says its next phase is scale, especially international manufacturing. Series production of the K3 Scout has begun at Rheinmetall's Blohm+Voss shipyard in Hamburg via a joint venture. The company has signalled additional manufacturing partnerships in the Middle East and Indo-Pacific. Watch for those announcements and further NATO order flow.

BUSINESS 2.0 has no commercial relationship with companies mentioned.

Sources include company disclosures, regulatory filings, analyst reports, and industry briefings.

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Analysis based on company announcements, investor disclosures, regulatory filings, Reuters, Bloomberg, Financial Times, CNBC, SEC documentation, and publicly available market data as of publication.

About the Author

Marcus Rodriguez

Robotics & AI Systems Editor

Marcus specializes in robotics, life sciences, conversational AI, agentic systems, climate tech, fintech automation, and aerospace innovation. Expert in AI systems and automation

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Frequently Asked Questions

How much did Kraken Technology Group raise and at what valuation?

Kraken raised $175 million in a Series B round at a $1 billion valuation, closing on July 9, 2026. The round was led by Digital Transformation Capital Partners (DTCP).

Who invested in Kraken's Series B?

DTCP led the round, with participation from the British Business Bank, NATO Innovation Fund, Rheinmetall, Inocea Group, HICO, Thesiger Capital Group, BOKA Capital, Supernova Invest and Hakluyt Capital. Earlier investors including NSSIF, SmartCap, Notion Capital and Speedinvest converted their positions to equity.

What does Kraken Technology Group make?

The Fareham, UK-based company designs and manufactures high-speed autonomous uncrewed surface and subsurface vessels, including the K3 Scout, K4 Manta and K5 Kraken, built with modular carbon-fibre composite hulls for rough-sea operations.

How does Kraken differ from rival Saronic?

Kraken builds through established manufacturing partners such as Rheinmetall, Anduril and Davie Shipbuilding rather than running its own shipyards. Austin-based Saronic, which raised $1.75 billion at a $9.25 billion valuation in April 2026, operates its own yards.

What contracts has Kraken won?

Kraken secured a £12.3 million Royal Navy contract for 20 K3 Scout USVs and a $49 million USSOCOM Other Transaction Authority contract in November 2025, alongside NATO European partner work.