Kraken Robotics Inc. has completed a significant underwritten public offering, adding more than $115 million to its capital reserves through the sale of over 43.2 million common shares priced at $2.66 each. The freshly secured funds are intended to support the Canadian company’s strategic expansion plans, potential acquisitions, and efforts to strengthen its presence in global markets. Kraken intends to leverage the new capital to enhance its portfolio in marine technology, which includes advanced subsea imaging, power systems, and uncrewed maritime vehicles. The proceeds are also set to position Kraken as a more competitive bidder for large government and commercial contracts. Other players in the advanced marine technology industry are closely watching Kraken’s next moves as it solidifies its trajectory for global growth.
When watching Kraken Robotics’ previous funding rounds and acquisition activities, recent news reflects a step up in both magnitude and ambition. Earlier financial undertakings have been considerably smaller in scale, while recent acquisitions such as 3D at Depth have broadened Kraken’s technical capabilities. The company’s revenue growth and increasing participation in international markets signal an upward trend. Past reports suggested strategic acquisitions as a goal; this fundraising effort now provides the resources needed to pursue such plans on a larger scale. This public offering underscores the strategic intent to build on the momentum gained from previous achievements and drive further expansion.
How Does Kraken Plan to Advance Subsea Imaging?
Kraken Robotics aims to refine subsea intelligence solutions with technologies such as synthetic aperture sonar, sub-bottom imaging, and lidar systems. The company’s portfolio, which now includes products from its newly acquired 3D at Depth subsidiary, covers survey and mapping requirements across infrastructure, geological, and energy sectors. Its pressure-tolerant batteries add to its value proposition for uncrewed underwater vehicles, supporting longer and safer operations in demanding marine environments.
What Is the Impact of Acquiring 3D at Depth?
The acquisition of 3D at Depth Inc., completed through a Kraken subsidiary, enhances Kraken’s capabilities in high-resolution subsea lidar imaging. With 3D at Depth now fully integrated, Kraken strengthens its offering of advanced imaging and measurement services. According to the company, the brand transition will allow both sides to deliver more comprehensive subsea data solutions while maintaining established client relationships.
“With a fortified balance sheet, we are well-positioned to pursue strategic acquisitions, expand our global footprint, and deliver even greater value to our customers and shareholders,”
said Greg Reid, Kraken’s President and CEO. This sets the stage for Kraken to address a broader set of client needs in the growing marine technology market.
How Will the Company Use the New Funding?
Kraken reported a gross profit of $10.1 million in the first quarter of 2025, up 8% compared to early 2024. The company, which serves clients across over 30 countries, plans to use the fresh capital to pursue further acquisitions, demonstrate fiscal strength in large contract bids, and support general business operations. The offering was managed by Desjardins Capital Markets along with a group of financial partners, who earned a commission of approximately $4.6 million. Final regulatory approvals are pending from the TSX Venture Exchange before the funds are fully deployed to these purposes.
Strategic allocation of the new funds is likely to reinforce Kraken’s profile as a prime contractor in the international marine technology space. By leveraging a strengthened balance sheet, Kraken can consider a wider range of accretive acquisitions, particularly aimed at expanding U.S. and European operations. For customers and investors, these moves could signify increased stability and improved capabilities, with potential positive effects on project reliability and service offerings. The company’s emphasis on integrating acquired technologies and expanding operational scale suggests a calculated approach to long-term industry competitiveness. For those closely following developments in marine systems, Kraken Robotics’ recent actions present a clear intent to secure a substantial position within the sector through targeted investments and operational growth.
- Kraken raised $115 million through a public offering of 43.2 million shares.
- The company will focus on acquisitions and marine tech expansion with these funds.
- 3D at Depth’s integration boosts Kraken’s subsea imaging portfolio and global reach.