Skyrocketing Defense Tech: Helsing Bagging €600 Million In Funding Shatters Valuation Records

In an exceptional blend of artificial intelligence and defense technology, Munich’s Helsing has made waves with a staggering €600 million raised in a Series D round. The successful investment campaign was spearheaded by Prima Materia, the investment firm launched by Spotify co-founder Daniel Ek. This new capital influx has skyrocketed Helsing’s value to €12 billion, according to reports confirmed by the Financial Times and Sifted. This elevated monetary status crowns Helsing as one of the highest valued European tech startups, more than doubling its previous evaluations.

Helsing’s profitability journey is notable - from a €5 billion valuation gained from a €450 million funding round last summer, the startup has quickly become a defense tech unicorn. Its financial success arrives during a period of increased interest and urgency in funding defense, driven by a more protectionist U.S. stance and the continuing Russia-Ukraine conflict. Consequentially, European venture capitalists have pivoted their focus toward deals in defense tech, transforming it into one of the VC world’s top focus areas.

Under Daniel Ek’s guidance, Helsing has already embarked on several strategic partnerships, including one with French OpenAI contender Mistral to develop LLMs for defense. Furthermore, it unveiled its first factory in Germany, aiming to produce an additional 6,000 drones for Ukraine, showcasing its commitment to actualizing a new era of AI-driven warfare across the globe.