Kraken Robotics expands role in naval drone supply chain

Kraken Robotics, a Canada-based company, is positioning itself as a key component supplier for the evolving unmanned underwater vehicle (UUV) market. While the company's stock has declined 57% from its all-time high, it has seen significant revenue growth, reporting 109 million Canadian dollars over the past 12 months.

The company specializes in sub-sea technologies, including high-performance battery technology, communication systems, sonar tracking, and positioning equipment. These components are increasingly vital as the U.S. government and its allies seek to expand unmanned maritime operations in regions such as the Taiwan Strait, the Baltic Sea, and the Persian Gulf. Kraken's products are utilized by firms like California-based Anduril Industries to power UUV fleets.

To scale its operations, Kraken Robotics recently completed a merger with the Covelya Group, a fellow sub-supplier in the naval warfare sector, which is expected to bring new technologies and expanded capabilities to the firm.