Estonian Superangel participates in UK-based Kraken Technology Group round

Tallinn-based venture fund Superangel has participated in a round for the British defense technology company Kraken Technology Group. Other participants in the round are the NATO Innovation Fund (NIF) and the UK National Security Strategic Investment Fund (NSSIF).

While the specific funding amount was not disclosed, Kraken Technology Group will focus the investment on furthering manufacturing, research and development, scaling internationally, and rapid prototyping.

Kraken Technology Group is a British company founded in 2021. It specializes in the development of crewless surface and underwater systems for various applications. The company aims to provide effective platforms for intelligence and combat missions, as well as for commercial applications in the maritime industry. Mal Crease is the founder and CEO of Kraken Technology Group.

Founded in Tallinn in 2018 by Veljo Otsason and Rain Rannu, Superangel focuses on pre-seed and seed investments in the Baltics and Nordic countries. General partners are Marko Oolo and Veljo Otsason. The Estonian investment firm focuses on artificial intelligence, robotics, energy, mobility, data and infrastructure. The typical ticket size is between €300K and €800K.

The NATO Innovation Fund (NIF) was established in 2021 with a target of $1 billion. NIF's main objectives are to identify promising early-stage civilian technologies and developments, adapt them to NATO's military needs, and help finance them.

The UK National Security Strategic Investment Fund (NSSIF) is a joint initiative of the British government and British Business Bank. The fund was created to accelerate the implementation of promising developments in the field of national security and defense.