Kraken Robotics, the Newfoundland maker of marine robotics systems that has raised close to $38 million from public markets this year, has signed a major new product partnership.

The company, which specializes in next-generation sonar systems and unmanned platforms to carry them, has signed a memorandum of understanding with the U.K.-based SeaByte, a division of Battelle. Kraken will combine its data-gathering hardware with SeaByte’s analytics software to create an “integrated system” for maritime businesses to manage their operations.

Kraken, which was founded in 2012 as a spinoff from another company, has had a busy year. It has appointed a new chairman, Peter Hunter, and posted record revenue figures for several quarters in a row, driven largely by military contracts.

The stock, which trades on the TSX Venture Exchange, has slid over the past week and currently sits at about $1.47. But investors have still seen their money grow by 137 per cent year-to-date.

“Kraken provides turnkey minehunting solutions which collect high quality data and turn it into high quality seabed intelligence – our customers use this to inform high quality decisions,” said CEO Greg Reid in a statement. “Our sonar systems are used worldwide for critical decision-making.

“Having completed several integrations and customer demos with SeeByte, Kraken is excited to integrate with SeeByte’s advanced capabilities. This provides navies worldwide with the ability to seamlessly leverage SeeByte’s mission management tools to optimally plan, analyze and review Kraken’s high-resolution synthetic aperture sonar data.”