Kraken Technology Group
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Founders
About
Kraken Technology Group is a UK-based maritime defence company headquartered in Fareham, Hampshire, that designs and manufactures uncrewed surface vessels (USVs) and associated payloads for NATO and allied defence customers 123. Founder and CEO Mal Crease previously led Vector Racing, a world-championship offshore powerboat programme, and the company draws engineering expertise from offshore powerboat racing, automotive innovation, and military operations to build fast, mission-configurable USVs 4. Kraken’s platforms have already been deployed in operational trials with allied navies and were selected in early 2026 for the Royal Navy’s Project Beehive, under which 20 uncrewed surface vessels are to be delivered for training and development 56.
Funding History
| Date | Round | Amount | Lead | Co-investors |
|---|---|---|---|---|
| 2026-07-09 | Series B | $175M | Digital Transformation Capital Partners | British Business Bank, NATO Innovation Fund, Rheinmetall, Inocea Group, HICO, Thesiger Capital Group, BOKA Capital, Supernova Invest, Hakluyt Capital 123 |
The Series B was announced on 2026-07-09 at a $1 billion valuation, making Kraken Europe’s newest maritime-defence unicorn 123. In addition to the new capital, existing backers NATO Innovation Fund, the UK National Security Strategic Investment Fund (NSSIF), SmartCap, Notion Capital, and Speedinvest converted prior instruments into Series B equity 12.
What Investors Say
“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.”
— Ole Aguirre, Partner at Digital Transformation Capital Partners, in the Series B announcement, July 2026 1
What Founders Say
“Kraken is excited to be partnering with DTCP, leading such a prestigious group of European and international investors.”
— Mal Crease, Founder and CEO, Kraken Technology Group, in the Series B announcement, July 2026 1
“This significant funding round will accelerate Kraken’s global roll-out, enabling deployment of mission-ready capabilities for NATO and worldwide partners at unprecedented maritime scale.”
— Mal Crease, Founder and CEO, Kraken Technology Group, quoted in Pulse 2.0, July 2026 2
Sources
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Pulse 2.0, “Kraken Technology Group Raises $175 Million Series B At $1 Billion Valuation,” July 2026, accessed July 2026. https://pulse2.com/kraken-technology-group-raises-175-million-series-b-at-1-billion-valuation/↩↩↩↩↩↩
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Defence Industry Europe, “Kraken raises $175 million to expand uncrewed surface vessel development and global manufacturing,” July 2026, accessed July 2026. https://defence-industry.eu/kraken-raises-175-million-to-expand-uncrewed-surface-vessel-development-and-global-manufacturing/↩↩↩↩↩
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TechFundingNews, “Kraken Technology Group becomes Europe’s newest maritime defence unicorn,” July 2026, accessed July 2026. https://techfundingnews.com/kraken-technology-group-175m-series-b-unicorn/↩↩↩
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Kraken Technology, “About Kraken,” accessed July 2026. https://www.krakentechnology.com/about-kraken↩
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Royal Navy news release, “Navy to buy 20 uncrewed boats as testbeds for future operations,” March 2026, accessed July 2026. https://www.royalnavy.mod.uk/news/2026/march/11/20260311-kraken-usv-procurement-announcement↩
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Defence Industry Europe, “Kraken Technology Group to deliver 20 uncrewed surface vessels to Royal Navy,” 2026, accessed July 2026. https://defence-industry.eu/kraken-to-deliver-20-uncrewed-vessels-to-royal-navy/↩