Company Dossier

Kraken Robotics

Kraken Robotics builds synthetic-aperture sonar systems, towed imaging platforms, and pressure-tolerant subsea batteries for naval mine countermeasures and UUV programs.

BattlePolicy Research · Updated 19 Aug 2026 · 5 min read

FILE · kraken-roboticsOpen-source file · BattlePolicy ProStatus **Public** (TSX-V: PNG / OTCQB: KRKNF)Verified

Kraken Robotics

Maritime/SubseaCA**Public** (TSX-V: PNG / OTCQB: KRKNF)

Kraken Robotics builds synthetic-aperture sonar systems, towed imaging platforms, and pressure-tolerant subsea batteries for naval mine countermeasures and UUV programs.

Founded

2012

Mount Pearl (St. John's area), Newfoundland and Labrador, Canada

Headcount

~300–400estimated, post-Covelya

Total raised

CA$402.5M public equity raise (March 2026); public company — no prior private venture rounds on record

Valuation

~CA$3.0B market capMarch 2026

Stage

Public — TSX-V: PNG / OTCQB: KRKNF

Background

Kraken Robotics was founded in 2012 and is headquartered in Mount Pearl (St. John's area), Newfoundland and Labrador, Canada. The company is publicly traded on the TSX Venture Exchange (PNG) and the OTCQB (KRKNF).

The CEO listed in company filings is Greg Reid, though some mid-2026 sources reference David S. Puglisi in a leadership capacity.

The core product portfolio centers on two lines: the KATFISH towed synthetic-aperture sonar, capable of 10-knot operations and delivering optical-comparable seabed resolution for mine countermeasures and pipeline inspection; and SeaPower, a pressure-tolerant battery system engineered for AUVs and UUVs operating at depth.

Additional offerings include interferometric sonar arrays, laser imaging systems, acoustic ranging sensors, and mission-planning software integration with SEFINE SISAM for mine countermeasures.

Kraken sells directly to naval agencies and through OEM partnerships with defense integrators such as Anduril.

The March 2026 acquisition of Covelya Group — a major underwater-technology supplier previously associated with Sonardyne Holdings — materially expanded its addressable market. The combined entity is estimated at roughly 300–400 employees across Canada, the UK, and Asia.

Financial footing

$9.5M Asia-Pacific navy (2023)
$2.4M sonar+power (2024)
**~$12M incl. two NATO-member navies** (Dec 2025)
Backers: Public

Kraken is publicly traded; its market capitalization reached approximately CA$3.0 billion (USD $2.25 billion) as of March 2026, following a reported 347% stock-price increase over the prior year. Full-year 2025 revenue was CA$102.2 million. Q1 2026 revenue reached CA$21.7 million, up 35% year-over-year, with Adjusted EBITDA of CA$3.0 million. SeaPower battery sales drove a 46% product-revenue surge in Q3 2025.

In March 2026, Kraken completed a CA$402.5 million public offering of subscription receipts (47.4 million receipts at CA$8.50 each) to fund the Covelya acquisition. The Covelya Group acquisition was valued at CA$615 million (CA$480 million cash plus CA$135 million in shares), closed March 2026. The combined entity is projected at roughly CA$365 million in 2025 annualized revenue at a 24% Adjusted EBITDA margin. The company's primary capital is public-market equity; no private venture rounds are on record.

Major customers & contracts

Kraken's confirmed military and defense customers include an unnamed Asia-Pacific navy, which awarded a CA$9.5 million contract in 2023 for sonar systems. A CA$2.4 million sonar-and-power contract was awarded in 2024. In December 2025, Kraken announced a contract worth approximately CA$12 million covering deliveries to two NATO-member navies — the specific nations have not been publicly disclosed.

Anduril Industries is a confirmed defense-integrator customer, purchasing Kraken batteries and sonar systems for Anduril's UUV programs. KATFISH has been integrated into SEFINE SISAM mission-planning software for naval mine-countermeasures applications, indicating use by MCM-oriented naval operators. The Covelya acquisition, completed March 2026, added Covelya's existing defense and offshore customer base, though specific agency names from that portfolio have not yet been publicly disclosed by Kraken.

Leadership & contact surface

Leadership: Greg Reid
Official site: https://krakenrobotics.com

Contact policy. BattlePolicy maps roles and official, published channels only — who owns a decision and the front door — never individuals’ personal phone numbers, private emails or home details. This keeps the file GDPR-clean and welcome to the companies we profile.

Competitive position

Kongsberg Maritime is Kraken's most direct large-scale competitor in naval sonar and UUV systems; Kongsberg holds deeper integration with NATO surface and submarine fleets, while Kraken's SAS resolution and SeaPower battery depth-tolerance give it an edge in MCM and AUV-specific roles. Teledyne Marine (via RESON and Teledyne Geospatial) competes across side-scan and multibeam sonar; Kraken differentiates on synthetic-aperture resolution rather than conventional beamforming.

Sonardyne Holdings — the seller of Covelya — is both a prior partner and ongoing competitor in underwater positioning and sonar; the Covelya deal simultaneously adds capability and removes one competitive overlap. L3Harris competes in underwater sensors and communications but operates primarily at a larger system-integration tier, where Kraken functions more as a component or subsystem supplier. The market structure is oligopolistic at the high-resolution naval sonar level; Kraken's moat rests on proprietary SAS algorithms and pressure-tolerant battery engineering, though its relatively small scale versus Kongsberg and Teledyne remains a procurement-risk factor for large programs.

Battlefield relevance

No confirmed combat use to date.

Sources & verification

🔒 BattlePolicy Pro — the analyst verdict on Kraken Robotics follows: where this file is strong, where the evidence is thin, and what would change our assessment. Unlock with BattlePolicy Pro →