Kraken raises £130M Series B, the UK's biggest security round on record
What's the deal? UK maritime defence company Kraken Technology has raised £130 million in a Series B round led by Digital Transformation Capital Partners (DTCP)Dealroom has a profile for this one. Try Dealroom →. The British Business Bank contributed £27 million, alongside RheinmetallDealroom has a profile for this one. Try Dealroom →, the NATO Innovation FundDealroom has a profile for this one. Try Dealroom →, Inocea Group, HICO, Thesiger Capital GroupDealroom has a profile for this one. Try Dealroom →, BOKA Capital, Supernova InvestDealroom has a profile for this one. Try Dealroom →, and Hakluyt CapitalDealroom has a profile for this one. Try Dealroom →.
What's the endgame? Kraken builds uncrewed autonomous maritime platforms, including surface vessels and payload systems. The company will use the funding to advance those systems and rapidly expand localised manufacturing facilities worldwide.
The expansion: That global rollout is central to the raise. Founder and chief executive officer Mal Crease said the round would enable deployment of "mission-ready capabilities for NATO and its worldwide partners at an unprecedented scale in the maritime domain."
Why now? The deal reflects the British Business Bank's growing focus on defence, one of eight priority areas in the UK Industrial Strategy. It builds on the National Security Strategic Investment Fund's first backing of Kraken in 2025, and follows recent bets on satellite firm SatVu and simulation company Hadean.
By the numbers: At £130 million, this is the largest Series B security round ever recorded in the UK, ranking in the top 1% of 58 comparable deals.
The signal: European governments and investors are pouring capital into sovereign defence technology, and autonomous systems are a clear priority. "Autonomous maritime vehicles have both defence and civilian potential and it's exciting that a UK company is in a position to lead this market globally," said George Mills, senior investment director at the British Business Bank.
Read more: British Business Bank
Image credit: Kraken Technology
