Kraken raises $175M to become a maritime-defence unicorn
From powerboat records to a $1bn war chest: meet Europe’s newest defence unicorn
British firm Kraken raised $175M (€152.9M), led by Digital Transformation Capital Partners (DTCP), to build uncrewed war boats for NATO. Days earlier, the Royal Navy airdropped one of its drones from a plane at 1,300 feet.
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July 10, 2026 – 12:47 pm
Image by: Kraken Technology Group
First the Royal Navy shoved a robot boat out of a transport plane at 1,300 feet. Then its maker became Europe’s newest defence unicorn.
Kraken Technology Group Raises Series B
Kraken Technology Group, a British maker of uncrewed surface vessels, has raised $175 million in a Series B round, valuing the company at over $1 billion. Digital Transformation Capital Partners (DTCP) led the round with backing from European VCs, NATO Innovation Fund, and more.
Uncrewed Composite Boats
Kraken builds small, modular, and affordable composite boats that operate without a crew. The K3 SCOUT, K5 KRAKEN, and K4 MANTA models offer different capabilities, from surveillance to precision strikes. These vessels are already deployed in several ongoing conflicts.
A New Approach
Unlike competitors like Saronic who build their own shipyards, Kraken partners with established manufacturers such as Rheinmetall, Anduril, and Davie Shipbuilding to produce its boats. This approach allows for faster scalability and quicker delivery to NATO clients.
The Defence Tech Gold Rush
The round lands in a gold rush. Venture funding for defence tech hit a record $49.1 billion in 2025 as Europe rearms. Kraken’s raise is part of a larger trend, with companies like Stark Defence and BAE-backed funds gaining significant investment.
"The maritime domain is profoundly under-invested," said DTCP partner Ole Aguirre, highlighting Kraken’s ability to swiftly respond to NATO’s needs with cost-effective solutions.
Why it Matters
Kraken’s founder, Mal Crease, transitioned from chasing offshore powerboat records to defence in 2020, recognizing the potential for innovative maritime technology.