Early-stage British maritime technology company Kraken Technology Group (KTG) announced today that it has completed a further private funding round to support development of its Kraken K50 precision engagement craft, prior to an anticipated priced investment round later this year.
The Kraken K50 is designed specifically to meet the growing global requirement for fast-response precision engagement, coastal interdiction and the protection of critical offshore infrastructure. The K50 will push the boundaries of technical and operational performance with response speeds in excess of 65 knots and optional use of advanced electric powertrain technology to extend key range and performance parameters, all housed within a unique composite design and structure.
The K50 has also been developed to directly address the growing challenges presented by swarming activities through a range of integrated modular systems and sensors which deliver uniquely semi-autonomous operational and offensive capabilities.
Mal Crease, Founder and CEO of Kraken Technology Group, commented:
“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”.
- Kraken Technology Group is a UK company founded in 2021 and structured around decades of cross-sector expertise and pioneering experience in the marine industry.
- Precision motorsport and a high-performance heritage is embedded in the company DNA and underpins both a disruptive and pioneering approach to maritime design and manufacturing.
- Kraken’s core management team were all participants in the highly acclaimed and multiple World Record-breaking Vector Racing Team which previously developed advanced platforms for both the retail and security industries.
- KTG acquired Vector Racing in 2021 as part of its ongoing development programme into high-performance electric and hydrogen supported powertrain solutions.
KRAKEN TECHNOLOGY GROUP PRESS OFFICE
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