Kraken gets investors backing for K50 precision engagement platform

British maritime technology company Kraken Technology Group (KTG) has completed further private funding round to support the development of its Kraken K50 precision engagement craft, prior to an anticipated priced investment round later this year.

Kraken Technology Group
Source: Kraken Technology Group

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. It was developed to directly address the growing challenges presented by swarming activities through a range of integrated modular systems and sensors.

The vessel will feature technical and operational performance with response speeds in excess of 65 knots and optional use of advanced electric powertrain technology. The new technology is being developed to extend key range and performance parameters.

“The Kraken K50 will demonstrate … levels of performance, integration, modularity and operational capability which addresses both expeditionary and green-water requirements,” Mal Crease, Founder and CEO of Kraken Technology Group, commented.

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,” he added.

Kraken K50 is a successor to the MTB, MGB and PT Boat type craft. It is designed as a fully integrated weapons platform, and comes in two variants, K50A and K50B.