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Robotics

The Canadian Robotics Company Cashed Up For Expansion

October 25, 2024
x min read
Kraken Robotics Catfish
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One of the leaders in underwater robotics is getting ready to ramp up.

What’s happening:

  • Kraken Robotics (TSXV: PNG) has successfully raised $51.75M CAD in a new financing round

The big idea:

  • Kraken Robotics has developed purpose built robotics for better understanding the oceans through subsea sensors and high resolution 3D imaging technology
  • Kraken Robotics can leverage their robotics hardware for ocean surveying, geohazard surveying and imaging beneath the seabed

Why it matters:

Going deeper:

  • Kraken has cut many significant deals with government agencies for using their robotics technology, including with the Australian Department of Defense, the United States Navy, the Royal Canadian Navy and even the Royal Danish Navy
  • The government of Taiwan has also used Kraken Robotic’s technology for high resolution seabed surveys to identify promising locations for installing offshore renewable energy infrastructure

The intrigue:

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