Kraken Robotics Inc (KRKNF)

[spec machine]

The kraken is a mythical, giant sea creature that is said to live off the coasts of Norway and Iceland, emerging from the ocean depths to scare off sailors, fishermen and other seafarers. (It’s also what Seattle calls its new NHL expansion team.)

Far away from Seattle or the Norwegian Sea, in Mount Pearl, Newfoundland, it serves as the name of a 10-year-old ocean-tech company, Kraken Robotics, which is now leading a $20-million commercial project as part of Canada’s Ocean Supercluster.

Kraken Robotics is the ultimate example of the power of the country’s burgeoning superclusters initiative, and how these networks of businesses, academics, researchers, and government agencies working toward a common goal can help propel Canada’s economic prosperity.

In collaboration with its partners, Kraken is developing underwater technology platforms to map the sea floor and has grown from 70 to 210 employees in just over two years. “We have been able to scale up and leverage $10 million from industry, in part, because of doors opened by the Ocean Supercluster,” explains vice-president Bill Donovan.

https://www.thestar.com/business/2022/03/05/superclusters-supercharging-canadas-innovation-economy.html

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