Kraken Technology, a developer of autonomous maritime platforms including uncrewed subsurface vessels, has secured $175 million in Series B funding at a $1 billion valuation, according to Tech.eu.
The company designs and builds uncrewed surface and subsurface vessels for defense and commercial applications. The fresh capital will be directed toward advancing its surface vessel line and expanding manufacturing capacity.
The round propels the firm to unicorn status, reflecting growing investor appetite for autonomous naval systems. Such platforms are increasingly sought after for surveillance, mine countermeasures, and deterrence missions.
Kraken's technology aims to reduce human risk in contested maritime environments. The startup's valuation of $1 billion underscores the strategic importance placed on uncrewed naval capabilities by both governments and private backers.
Industry observers note that competition in the autonomous maritime space is intensifying, with several startups vying for defense contracts alongside established primes.