Uncrewed patrol boat maker Kraken Technology reaches $1B valuation with $175M funding

British defense technology firm Kraken Technology Group has reached a $1 billion valuation after closing a $175 million Series B funding round, according to reports from NatSecPulse and The Defence Blog. The round was led by Digital Transformation Capital Partners (DTCP) and positions the company among the growing number of defense startups focused on uncrewed maritime systems.

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NatSecPulseBritish Drone Boat Firm Hits $1B ValuationThe Defence BlogBritish drone boat firm raises $175M at $1B valuation

Kraken, based in Fareham, specializes in uncrewed autonomous maritime platforms, particularly patrol boats designed for NATO navies, as reported by UKTN. The company's vessels are intended for surveillance and patrol missions, reflecting a broader shift toward unmanned naval operations.

UKTNMaritime defence tech firm Kraken Technology raises $175m Series B

"A British firm building uncrewed patrol boats for NATO navies just crossed the billion-dollar valuation mark."

That milestone underscores the accelerating demand for autonomous systems in naval warfare.

According to UKTN, Kraken will use the funding to continue developing uncrewed surface vessels and payload capabilities, as well as expand its manufacturing facilities globally. The company has already secured contracts from the UK Ministry of Defence, NATO European partners, and the U.S. Special Operations Command, with its platforms now deployed in support of multiple operations.

"The investment will be used to continue developing uncrewed surface vessels and payload capabilities, as well as expanding manufacturing facilities globally."

This global expansion plan suggests Kraken is betting on sustained demand from allied navies.

NatSecPulse highlighted the broader significance of the funding: "The funding and valuation of Kraken Technology Group signify the growing importance of unmanned systems in naval operations and the increasing investment in defense technology startups." As NATO allies modernize their fleets, uncrewed patrol boats offer a cost-effective way to enhance maritime domain awareness.