Kraken secures further investment for maritime precision engagement platform

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. www.krakentechnology.com