Overview
- Kraken Technology Group, which closed a $175 million Series B on Thursday, said the round values the company at $1 billion and was led by Digital Transformation Capital Partners.
- The investor group includes the NATO Innovation Fund, the British Business Bank and Rheinmetall, and several early backers converted earlier stakes into equity as part of the round.
- Kraken said the funds will accelerate development of its uncrewed surface vessels and payloads and scale localized manufacturing in NATO countries through existing partnerships in Germany, the United States and Canada.
- The raise follows contract wins that underpinned investor confidence, including a $49 million USSOCOM Other Transaction Authority awarded in November 2025 and an April 2026 agreement for Anduril to build Kraken‑designed K5 and K7 vessels for U.S. Navy needs.
- Company and investor statements say Kraken platforms are already supporting multiple conflicts but they did not provide operational details, and the new capital could speed wider navy adoption while shifting more production into partner shipyards.