German Defence AI Leader Attracts Major Investment Led by Spotify Founder
Munich-based defence technology startup Helsing has raised €600 million in its latest Series D funding round led by Prima Materia, the investment firm of Spotify cofounder Daniel Ek. The record-setting round, which saw participation from top investors including Accel, Lightspeed Venture Partners, Plural, General Catalyst, and Swedish defence prime Saab, values Helsing at €12 billion, firmly placing it among Europe’s most valuable startups and more than doubling its previous valuation[2][3][4][5].
Pioneering AI and Autonomous Technologies for Modern Defence
Founded four years ago, Helsing rapidly built a reputation for its advanced
AI-driven defence software and, as of late 2024, has expanded to autonomous strike drone production alongside its core AI capabilities. The company recently unveiled an underwater surveillance system, underscoring its focus on precision mass and autonomy as key drivers of next-generation battlefield innovation[2][5].
- Helsing’s AI agent, Centaur, recently achieved a milestone by conducting a test flight on Saab's Gripen fighter jet, showcasing the integration of artificial intelligence for real-world defence applications[5].
- The new capital will support Helsing’s effort to scale manufacturing, with a German factory set to produce an additional 6,000 drones for Ukraine this year[2].
- The startup has also formed a recent partnership with French Mistral, an OpenAI challenger, to develop large language models (LLMs) for defence[2].
- Helsing works with several governments, including Germany, the UK, and Estonia, affirming its expanding influence on Europe’s defence landscape[2].
Surge in Defence Tech Investments Amid Geopolitical Uncertainty
The success of Helsing’s fundraising reflects heightened investor interest in European defence technologies, catalyzed by ongoing geopolitical instability, including the war in Ukraine and rising protectionism in the US. This year has seen other European drone makers, such as Quantum Systems and Portugal’s Tekever, reach unicorn status with valuations of €1 billion or more[2].
Daniel Ek, speaking to the Financial Times, underscored the significance of the moment:
“There’s an enormous realisation that it’s really now AI, mass and autonomy that is driving the new battlefield. We can’t understate the implications of that for this conflict [in Ukraine] or really any conflict going forward.”[2]
Continued Expansion and Strategic Collaborations
Helsing’s latest funding round comprises a blend of traditional equity and other financing instruments, which will accelerate the company’s mission to equip democracies with cutting-edge defence solutions. Collaborations such as the integration of
ChatGPT-style AI into defence platforms, as well as joint R&D initiatives with European technology leaders, further position Helsing as vanguard of responsible and effective military innovation[2][5].
With its expanded war chest and growing international footprint, Helsing aims to solidify its role in helping democratic societies attain technological leadership and maintain their sovereign decision-making in an increasingly complex security environment[1][2].
