Kraken Technology Group raises $175M, becomes unicorn

Kraken Technology Group, a developer of autonomous maritime vehicles, has raised $175 million in a Series B funding round led by DTCP, achieving a $1 billion valuation. This positions Kraken as Europe's newest defence unicorn, reflecting increased investor interest in maritime technology amid rising security concerns. The London-based company produces vessels like the K3 Scout and K5 Kraken, used for surveillance and combat, and collaborates with entities such as the UK Ministry of Defence and NATO. The funding will support Kraken's global expansion and strengthen its manufacturing partnerships.