The Canadian AI Index

Companies / Kraken Robotics

Kraken Robotics

Kraken Robotics is a defence and security AI company based in St. John's, Newfoundland and Labrador. It was covered in the Canadian AI Newsletter in March 2026. It is listed on the TSXV as PNG.

Defence and underwater robotics; acquired Covelya ($615M).

krakenrobotics.com

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Founded
2012
HQ
St. John's, NL
Category
Defence/Security AI
Status
Public

Funding history

RoundDateAmountInvestors
Public financingMar 12, 2026 C$402.5MUndisclosed. Bought deal public offering of subscription receipts to part-fund the C$615M Covelya acquisition; announced Mar 3 2026 at approximately C$350M, closed Mar 12 2026 at C$402,505,175 gross (47,353,550 receipts at C$8.50) with the over-allotment exercised in full; each receipt converted to one common share on closing of the acquisition, completed Jul 2 2026
Public financingJun 17, 2025 C$115MUndisclosed. Bought deal public offering; announced Jun 17 2025 at C$100.0M (37,600,000 shares at C$2.66); closed Jul 7 2025 at C$115,018,400 with the over-allotment option fully exercised
Public financingOct 22, 2024 C$51.8MUndisclosed. Bought deal short-form prospectus offering; announced Oct 1 2024 at C$25M (15,625,000 shares at C$1.60), upsized Oct 2 to C$45M, closed Oct 22 2024 at C$51,750,000 with the over-allotment fully exercised (32,343,750 shares)
Public financingMay 21, 2024 C$20.1MUndisclosed. Bought deal short-form prospectus offering announced Apr 25 2024 at C$17.5M (18,422,000 shares at C$0.95), closed May 21 2024 at C$20,126,035 gross for 21,185,300 shares with the over-allotment fully exercised

Public financings were raised while the company was listed. They are not counted in Index totals.

In the newsletter

Sources

Data as of November 10, 2026.

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