Kraken Technology Group raised $175m in Series B funding at a $1bn valuation, making it Europe's newest defence unicorn.

DTCP led the round for the London-based company, which develops uncrewed autonomous maritime vehicles. The British Business Bank, Nato Innovation Fund, Rheinmetall, Inocea Group, HICO, Thesiger Capital Group, BOKA Capital, Supernova Invest and Hakluyt Capital also invested.

The funding reflects growing investor interest in maritime defence technology as Europe prioritises security infrastructure. While drones and AI have dominated defence tech investment, maritime protection has gained attention for safeguarding Europe's subsea infrastructure.

Kraken builds autonomous maritime defence vessels across multiple categories. Its K3 Scout handles surveillance, logistics and precision strikes. The K4 Manta provides high-speed surface transit and covert sub-surface operations. The K5 Kraken serves as an unmanned surface vehicle for coastal combat.

The company holds contracts with the UK Ministry of Defence, NATO European partners and the US Special Operations Command.

Manufacturing partnerships expand global reach

Kraken has established manufacturing partnerships with Germany's Rheinmetall, US-based Anduril Industries and Inocea's Davie Shipbuilding in Canada. The company says similar partnerships are pending in the Middle East and Indo-Pacific regions.

"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," said Mal Crease, founder and CEO.

The Series B positions Kraken to scale production and expand its presence across key defence markets. The company plans to use the funding to accelerate deployment of its maritime capabilities for NATO allies and partners worldwide.