British maritime defence start-up Kraken gains unicorn status after $175 million raise

By the Editorial Team · Friday, July 10, 2026

British defence start-up Kraken Technology reached a $1 billion valuation after securing $175 million in funding led by Digital Transformation Capital Partners and supported by the Nato Innovation Fund and British Business Bank. The investment will boost production and global deployment of Kraken's autonomous maritime vessels, enhancing European defence capabilities and meeting growing demand for unmanned military technologies.

Kraken Technology, a British defence start-up specializing in autonomous maritime vessels, has achieved unicorn status following a $175 million funding round that values the company at $1 billion. The investment round was led by German firm Digital Transformation Capital Partners (DTCP) and included participation from the Nato Innovation Fund, Rheinmetall, and the British Business Bank (BBB).

Based in Fareham, Hampshire, Kraken develops uncrewed vessels designed for military and security applications. Its products include unmanned mine-hunting vessels currently deployed by the Royal Navy in the strategically sensitive Strait of Hormuz, as well as armed speedboats capable of deployment from helicopters for maritime warfare operations. The company holds contracts with both the UK Ministry of Defence and Nato.

The British Business Bank invested £27 million in the latest funding round, citing its focus on advancing the UK’s defence sector. Charlotte Lawrence, managing director of direct equity at the BBB, said the investment reflects Kraken’s role in driving a transition towards autonomous maritime systems. She noted that Kraken’s technology, already operational, is prepared for large-scale production, enhancing Europe’s sovereign defence capabilities while supporting domestic growth.

Other investors involved included the London-based marine conglomerate Inocea Group and venture capital firms such as Hico, Thesiger Capital Group, Boka Capital, Supernova Invest, and Hakluyt Capital. Mal Crease, Kraken’s founder and chief executive, expressed optimism about the company’s expansion, stating that the new funding would accelerate global deployment of its autonomous maritime solutions to Nato and allied partners.

Since its founding, Kraken has produced and delivered over 200 vessels and plans to scale production to 1,000 units annually. This expansion aligns with rising global demand for autonomous defence technologies.

According to recent research by the Hurun Research Institute, the UK ranks third worldwide in the number of unicorn companies—start-ups valued at over $1 billion—trailing only the United States and China. The UK currently hosts a record 80 unicorns, collectively valued at £242.4 billion. Kraken is among 23 new British unicorns created in the past year, reinforcing the UK’s status as Europe’s leading start-up hub. Among the country’s most valuable unicorns are Revolut, valued at £57.8 billion, and Nscale, an artificial intelligence data centre company valued at £11.6 billion.

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