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        Kraken Robotics, a marine technology company, has secured CAD 17.5 million (USD 12.8 million) in a public offering. The investment round was spearheaded by a group of investment dealers led by Cormark Securities, who agreed to purchase 18,422,000 common shares, at a rate of CAD 0.95 (USD 0.70) per share.
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        The raised funding is intended to enhance the company's long-term strategy, which includes potential investment in facilities, expansion of manufacturing capacity, and broadening of single-award programs. It will also strengthen the company's balance sheet in anticipation of future large-scale projects and for general corporate purposes. The closing of the funding round is estimated to occur by May 16, 2024.
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    <a href="https://www.newswire.ca/news-releases/kraken-robotics-inc-announces-17-5-million-bought-deal-public-offering-839049700.html">
      Press release
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Conservation Tech

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 <p>Marine technology firm, Kraken Robotics, has raised CAD 17.5 million (USD 12.8 million) in a public offering, led by a consortium of investment dealers headed by Cormark Securities. In this investment round, these dealers agreed to purchase 18,422,000 common shares at a rate of CAD 0.95 (USD 0.70) per share.</p>
 <p>The funding secured will be used to advance the company's long-term strategy, which includes potential investment in new facilities, expansion of manufacturing capacity, and increasing the scope of single-award programs. Additionally, the funding will bolster the company's balance sheet, preparing it for future large-scale projects and for general corporate purposes. The closing of this investment round is projected to happen by May 16, 2024.</p>
 
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Kraken Robotics raises CAD 17.5 million in common shares funding

PROMINENT_CATEGORY

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 <p>Marine technology company, Kraken Robotics, has obtained orders exceeding USD 6 million for their subsea batteries. The identity of the customers has not been disclosed. </p>
 <p>The company plans to deliver these orders in 2024 and 2025. This instance underpins the growing demand for marine robotic systems, sensor technology, and subsea batteries in the sector.</p>
 
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Kraken Robotics receives orders for subsea batteries totaling over USD 6 million

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 <p>Carbon Done Right Developments Inc., previously Klimat X Developments Inc., has unveiled plans to raise CAD 2.1 million (approximately USD 1.52 million) from Leede Jones Gable Inc. They will issue 43 million common shares at CAD 0.05 (around USD 0.036) per share in return.</p>
 <p>The raised capital will be used for different ventures including project development, technology improvement, acquiring and developing new sites, and as general corporate and working capital.</p>
 <p>Established in 2021, Carbon Done Right Developments Inc. is a tech-enabled company specializing in rainforest planting. It creates authenticated and verified carbon credits via afforestation and reforestation of degraded land areas and marine ecosystems, like mangroves. These credits are then sold in the international voluntary carbon markets. Carbon Done Right Developments Inc.'s projects, which it either invests in or directly manages, focus on restoring and managing terrestrial and marine systems that enhance the sequestration of greenhouse gases.</p>
 
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Carbon Done Right Developments Inc. raises CAD 2.1 million via private placement to bolster operations

ANALYST_QUICK_TAKE

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 <p>Dryad Networks, a company based in Berlin that specializes in forest fire detection and analysis, has successfully finished the primary phase of its convertible financing round. They managed to secure EUR 5.6 million, which is about USD 6.1 million, out of a prospective EUR 10 million (approximately USD 10.9 million). Both new and existing investors participated in this round.</p>
 <p>Dryad Networks plans to utilize these funds to further progress in the development and implementation of its wildfire detection technology.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> In July 2023, Dryad Networks secured an undisclosed equity investment from the <a href="https:<br>
//www.dryad.net/post/telus-pollinator-fund-invests-in-dryad-helping-to-combat-the-devastating-effects-of-wildfires"> TELUS Pollinator Fund for Good </a> as part of its Series A financing. The <a href="https:<br>
//www.dryad.net/post/dryad-closes-10-5m-in-series-a-funding-to-bring-ultra-early-wildfire-detection-to-global-market"> initial Series A round </a> , closed in August 2022, raised EUR 10.5 million (~USD 11.2 million) to support team expansion, accelerate marketing efforts, and scale the solution globally. The company’s solution, Silvanet, is currently deployed in over 20 countries across North America, Europe, and Asia, with 30,000 sensors shipped.</p>

Dryad Networks closes EUR 5.6 million convertible financing round to advance technology

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 <p>Unseenlabs, a French satellite technology firm specializing in maritime surveillance, has secured funding of EUR 85 million, which equates to approximately USD 92 million. This funding round saw contributions from new investors such as Supernova Invest and ISALT (via its Strategic Transition Fund) and UNEXO. Existing investors included 360 Capital, OMNES, Bpifrance, Breizh Up (managed by UI Investissement), and S2G Ventures.</p>
 <p>With these funds, Unseenlabs plans to focus on several key areas:</p>
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  <li><p>The company is looking to enhance its observation capabilities through the launch of additional satellites.</p></li>
  <li><p>It aims to boost its international presence, focusing particularly on establishing a stronger foothold in the American and Asian markets.</p></li>
  <li><p>The firm plans to strengthen its operations within the private sector, including industries like oil and gas, insurance, ship owning, economic intelligence, and the offshore energy sector.</p></li>
  <li><p>Unseenlabs will also be looking to innovate and roll out new products and solutions to support its growth.</p></li>
  <li><p>Lastly, the company will be investing in talent acquisition to bring new skills and expertise into the team.</p></li>
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Unseenlabs raises EUR 85 million to expand service offerings

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 <p>Dryad Networks, a forest fire detection firm based in Berlin has bought its first batch of 3,000 EM2050 LoRaWAN modules from EchoStar Mobile, an Irish satellite communications solutions provider. Step taken by Dryad aims at enhancing the functionalities of its own Silvanet Gateways with the help of these modules.</p>
 <p>By implanting the modules within Silvanet Gateways, Dryad can perform bi-directional communications, configure devices, and update firmware over the air (FUOTA). This addition also makes it possible to carry out large-scale deployments without terrestrial network coverage.</p>
 
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Dryad Networks partners with EchoStar Mobile for satellite IoT fire prevention solution

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 <p>Cultivo, a FinTech focused on climate, has secured USD 14 million in Series A funding. The round was led by MassMutual Ventures and Octopus Energy Generation, alongside Salkantay Ventures and Peña Verde. This capital will enable Cultivo to expand its business, enhance its AI-driven science and tech platform, and deliver natural capital projects to institutional clients. In addition, Cultivo has entered an agreement with Octopus Energy Generation for an investment of up to USD 40 million in natural capital projects across North America, Europe, and Australasia.</p>
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Cultivo raises USD 14 million in Series A funding to accelerate business growth

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<p>AI-powered wildlife monitoring tools provider, Conservation X Labs (CXL), has acquired Wild Me to integrate their AI technology and further their wildlife conservation work. Wild Me has supported over 1,800 researchers and tracked more than 200,000 animals across the world with open-source software platforms that deploy machine learning and computer vision. The merger will allow CXL to incorporate Wild Me's technology into its product portfolio, and leverage AI for individual animal re-identification. CXL's solutions include Sentinel, an AI-powered wildlife monitoring tool, and NABIT, a handheld molecular lab, to enhance wildlife trafficking enforcement and traceability.</p>
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Conservation X Labs merges with Wild Me for AI advancements

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 <p>The University of Hawai'i at Mānoa, in collaboration with <a href="https://sp-edge.com/companies/277754"> Saildrone </a>, a company specializing in real-time ocean mapping via unmanned surface vehicles (USVs), has finalized a near-shore oceanic water quality survey around the main Hawaiian Islands.</p>
 <p>Using Saildrone Explorers, three drones surveyed the Hawaiian Islands, gathering over 100,000 vital measurements including key indicators like temperature, CO2 levels, turbidity, and more from April 6 to November 27.</p>
 <p>This survey aims to provide valuable insights to state leaders for policy-making, with a focus on measures to combat climate change impacts on marine ecosystems, especially coral reefs.</p>
 
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University of Hawai'i at Mānoa completes ocean water quality survey with Saildrone Explorers

The California-based carbon credit platform, Pachama, has raised $9 million in an extended Series B round. The funding comes from T.Capital and existing investors Lowercarbon Capital and Positive Ventures. Pachama plans to use the funds for further research and development of artificial intelligence (AI) applied to geospatial data. Additionally, they will offer new products and services to businesses and project developers. <p><b>Analyst QuickTake:</b> The extended capital brings Pachama's total Series B funding to USD 64 million, with <a href="https://sp-edge.com/updates/10236"> USD 55 million </a> raised in May 2022 for business and team expansion. In addition, the company has also formed partnerships to fund its reforestation initiatives. Last month, it partnered with <a href="https://sp-edge.com/updates/23689"> Ducks Unlimited and PERENfra </a> on a USD 12 million project focused on rehabilitating agricultural land in the Lower Mississippi River Valley. In September, the company partnered with <a href="https://sp-edge.com/updates/22209"> Mercado Libre </a> for a USD 23 million investment dedicated to restoring native forests and biodiversity in Latin America.</p>

All Updates