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:
- Robotics has been seeing a surge in excitement in the public markets recently, following notable new product launches from companies such as Tesla (NASDAQ: TSLA) and Richtech Robotics (NASDAQ: RR)
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:
- New technology breakthroughs in underwater exploration have also led to the ability to extract critical minerals from the ocean floor, which is something The Metals Company (NASDAQ: TMC) has been leveraging to find new sources of supply of battery grade metals including nickel and cobalt
