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April 20, 2022

Kraken receives additional investment for K50 precision engagement craft

The company expects to raise further investment during another round later this year.

UK-based maritime technology company Kraken Technology Group (KTG) has successfully secured additional investment for its K50 precision engagement craft.

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The private funding round will be used to support the development of its maritime platform. The company has plans to establish a dedicated manufacturing facility in the UK.

Developed to address the fast-growing challenges, the K50 can provide rapid response and swarmed force projection to protect national or naval maritime assets.

The platform also includes several integrated modular systems and sensors, which can deliver semi-autonomous operational capabilities.

Kraken Technology Group founder and CEO Mal Crease said: “The Kraken K50 will demonstrate unparalleled levels of performance, integration, modularity and operational capability, which addresses both expeditionary and green-water requirements.

“This investment will also allow us to establish a dedicated manufacturing facility in the UK, which will revolutionise the maritime composite design and integration process, specifically to meet increasingly localised manufacturing and assembly requirements.”

The ultra-high performance maritime craft comes in two different variants including K50A and K50B.

Design and structure of the maritime platform features advanced electric powertrain technology and has a response speed of 65kt.

KTG’s new maritime craft is a successor of motor torpedo boat, motor gun boat and patrol torpedo boat type craft.

In addition, the platform comes with a fully integrated weapon system to provide high performance and effective strike capability.

The company expects another priced investment round to take place in the coming months this year.

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Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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