British-founded maritime defence company Kraken Technology Group has closed a $175m Series B funding round led by Digital Transformation Capital Partners, valuing the business at $1bn and setting up a rapid expansion of manufacturing capability across multiple regions. The round, announced on 9 July from Kraken’s Fareham base, will fund continued development of the company’s uncrewed surface vessels and payload systems, alongside a fast-moving push to establish localised manufacturing facilities internationally. DTCP led the raise, with support from a broad mix of British and European backers including the British Business Bank, the NATO Innovation Fund, Rheinmetall, Inocea Group, and venture…
