Early-stage British maritime technology company Kraken Technology Group (KTG) announced 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”.