RAD Propulsion raises £4.4m for autonomous marine technology

RAD Propulsion, a UK-based developer of electric marine propulsion systems, has completed a £4.4m funding round to support the development of autonomous vessel technologies for defence and commercial applications.

The funding round was led by Mercia Ventures and follows a period in which the company and introduced Axon, its open systems architecture for uncrewed and autonomous vessels.

RAD launched the Axon vessel systems architecture at the Combined Naval Event in Farnborough in May 2026. The platform is designed to help boat builders and operators develop, integrate and deploy uncrewed vessel capabilities while allowing autonomy and mission software providers to be selected independently.

Rich Daltry, RAD co-CEO and founder, says: “Autonomous marine systems are moving rapidly from concept to deployment, and the response to our Axon launch confirmed that RAD is well placed to capture this opportunity. We believe the industry is moving towards open, flexible vessel architectures that allow systems, autonomy software and mission applications to evolve independently.

“This funding gives us the runway to scale commercially, grow our electric propulsion systems portfolio and expand into key international markets. We’re grateful to both our new and existing investors for their continued belief in what we’re building.”

Ruth Coleman, investment manager at Mercia Ventures, says: “We watched electrification reshape road transport over the last decade. Marine is about to go through the same shift, and RAD is building the platform for it for manned and autonomous vessels alike.”

The funding will support several areas of the business, including:

• Axon commercialisation – further development of the company’s open systems architecture, which is intended to help vessel builders develop uncrewed vessels, simplify integration for autonomy providers and reduce dependence on a single supplier throughout a vessel’s operational life
• Product portfolio expansion – continued development of RAD’s electric propulsion systems, energy management technologies and next-generation systems
• Engineering growth – expansion of the company’s applications engineering and delivery teams to support demand from defence and commercial customers

RAD says the investment will also support the company’s expansion into international markets. In February 2026, RAD appointed Charged Marine to support its expansion in the North American market.

The appointment followed the opening of a RAD Propulsion office in Charleston, South Carolina, towards the end of 2025, marking the firm’s entry into the US market.