A significant collaboration in the defense technology landscape has emerged as Superangel, a leading Estonian venture fund, announced its participation in a funding round for Kraken Technology Group, a British company at the forefront of crewless maritime systems. This strategic investment round also saw participation from the prestigious NATO Innovation Fund (NIF) and the UK National Security Strategic Investment Fund (NSSIF), underscoring the importance and potential of Kraken's innovations.
While the exact investment figures remain undisclosed, Kraken Technology Group has outlined ambitious plans for the fresh capital. The funds will be channeled into accelerating manufacturing capabilities, bolstering research and development efforts, expanding its international footprint, and enhancing its rapid prototyping initiatives.
Founded in 2021 by CEO Mal Crease, Kraken Technology Group has quickly established itself as a key player in developing advanced crewless surface and underwater systems. These cutting-edge platforms are designed for a wide range of applications, from critical intelligence and combat missions to diverse commercial uses within the maritime industry.
Superangel, established in Tallinn in 2018 by Veljo Otsason and Rain Rannu, is well-known for its focus on pre-seed and seed investments across the Baltics and Nordic countries. With general partners Marko Oolo and Veljo Otsason at the helm, the firm strategically invests in sectors like artificial intelligence, robotics, energy, mobility, data, and infrastructure, typically deploying ticket sizes between €300K and €800K. Superangel's involvement highlights the increasing cross-border collaboration and the recognition of deep tech potential within the European startup ecosystem.
The participation of the NATO Innovation Fund (NIF) further validates Kraken's technology. Established in 2021 with a target of $1 billion, NIF is dedicated to identifying and fostering promising early-stage civilian technologies that can be adapted to meet NATO's evolving military needs. Similarly, the UK National Security Strategic Investment Fund (NSSIF), a joint initiative of the British government and British Business Bank, plays a crucial role in accelerating developments vital to national security and defense.
This investment signifies a powerful vote of confidence in Kraken Technology Group's vision and its capacity to deliver transformative solutions for both defense and commercial maritime sectors. It also underscores the growing synergy between private venture capital and governmental/intergovernmental funds in driving innovation in critical technological areas. We look forward to seeing the impact of Kraken's continued advancements.
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