Kraken Robotics' Brazilian Subsidiary Gets $8M R&D Funding

Canadian marine robotics company Kraken Robotics said Friday it had signed a R&D contract with a global energy company that will provide $8 million of cash funding to Kraken’s Brazilian subsidiary over a 3-year period.

Under this project, Kraken will continue the development of Artificial Intelligence, Machine Learning software, and subsea autonomy solutions to intelligently analyze sensor data and learn how to respond to highly dynamic environments in the offshore oil and gas, wind, hydrographic, science, and defense industries.

"Due to customer confidentiality, further details cannot be released at this time," Kraken said.

• 13 Robotics Ltda of Brazil