British-founded maritime defence company Kraken Technology Group has closed a $175m Series B funding round led by Digital Transformation Capital Partners, valuing the business at $1bn and setting up a rapid expansion of manufacturing capability across multiple regions. The round, announced on 9 July from Kraken’s Fareham base, will fund continued ...
SEA, part of Cohort plc, has secured a UK Defence Innovation (UKDI) funding contract through the 2025 AUKUS Maritime Innovation Challenge, one of four companies selected from a competitive multinational field to advance undersea communications and autonomous systems control capabilities across the AUKUS partnership. The funding will be used to enhance ...
The UK Ministry of Defence has confirmed that shipbuilding has been designated a priority sector for reform under the Procurement Act 2023, in a move that signals a significant shift in how defence contracts will be awarded to British yards, boatyards and maritime businesses. Defence Minister Luke Pollard made the announcement ...
A first-of-its-kind project to develop cutting-edge uncrewed underwater technologies as AUKUS nations ‘step on the accelerator’ for Pillar 2. The project follows the first successful submarine maintenance period for a UK submarine at HMAS Stirling earlier this year, as UK and US submarines set to rotate through the Australian base from ...
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