Maritime defence startup Kraken Technology hits unicorn status
British-founded maritime defence startup Kraken Technology today said it had achieved unicorn status. The startup, founded in 2020 by former speedboat racer Mal Crease, said it had raised $175m in a S... It says it will use the funding to develop its uncrewed surface vessels while expanding manufacturing facilities.
Key Takeaways
- Defencetech Maritime defence startup Kraken Technology hits unicorn status It says it will use the funding to develop its uncrewed surface vessels while expanding manufacturing facilities.
John Reynolds 2 hours ago Share Share Send email Copy link British-founded maritime defence startup Kraken Technology today said it had achieved unicorn status.
- The startup, founded in 2020 by former speedboat racer Mal Crease, said it had raised $175m in a Series B funding round at a $1bn valuation, according to a press release.
The funding round was led by Digital Transformation Capital Partners (DTCP), with support from the British Business Bank, NATO Innovation Fund (NIF), Rheinmetall, Inocea group as well as VC firms Hico Ventures, Thesiger Capital, and BOKA Capital.
- Its tech is used by NATO, the UK Ministry of Defence and the US Navy.
- Crease, CEO, said: "This significant funding round will accelerate Kraken's global roll-out, enabling the deployment of hardened, reliable, mission-ready capabilities for NATO and its worldwide partners at an unprecedented scale in the maritime domain.
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Stats & Key Facts
- #The startup, founded in 2020 by former speedboat racer Mal Crease, said it had raised $175m in a S...
- #The startup, founded in 2020 by former speedboat racer Mal Crease, said it had raised $175m in a Series B funding round at a $1bn valuation, according to a press release.
It says it will use the funding to develop its uncrewed surface vessels while expanding manufacturing facilities. Defencetech Maritime defence startup Kraken Technology hits unicorn status It says it will use the funding to develop its uncrewed surface vessels while expanding manufacturing facilities. John Reynolds 2 hours ago Share Share Send email Copy link British-founded maritime defence startup Kraken Technology today said it had achieved unicorn status.
The startup, founded in 2020 by former speedboat racer Mal Crease, said it had raised $175m in a Series B funding round at a $1bn valuation, according to a press release. The funding round was led by Digital Transformation Capital Partners (DTCP), with support from the British Business Bank, NATO Innovation Fund (NIF), Rheinmetall, Inocea group as well as VC firms Hico Ventures, Thesiger Capital, and BOKA Capital. Kraken designs and builds autonomous maritime platforms, such as uncrewed subsurface vessels, for military and security purposes.
Its tech is used by NATO, the UK Ministry of Defence and the US Navy. It also counts US defence outfit Anduril as a partner. It says it will use the funding to develop its uncrewed surface vessel while expanding manufacturing facilities.
For more details please read the original article at Tech.eu.
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