Helsing, the German defence tech startup, has raised €600 million, more than doubling its valuation to €12bn, in a Series D funding round led by Spotify's Daniel Ek.
Helsing’s increased valuation, first reported by the Financial Times, comes amid heightened interest in defence tech, which is one of the hottest VC investment areas.
It means that Helsing is one of the highest-valued startups in Europe.
Ek’s investment comes courtesy of his investment vehicle Prima Materia, which made its first significant investment in Helsing in 2021.
Other investors in the round include existing investors Lightspeed Ventures, Accel, Plural, General Catalyst and SAAB and new investors BDT & MSD Partners.
In a shortly worded press release, Ek said: “Helsing is uniquely positioned with its AI leadership to deliver these critical capabilities in all-domain defence innovation.
"By doubling down on our investment, Prima Materia reaffirms its commitment to empowering Europe’s technological sovereignty—an ambition Helsing perfectly embodies.
“As Europe rapidly strengthens its defence capabilities in response to evolving geopolitical challenges, there is an urgent need for investments in advanced technologies that ensure its strategic autonomy and security readiness."
Helsing last raised in 2024, a Series C funding of €450m. In total, it has raised around $1.36bn.
Founded in 2021, Helsing develops AI-based capabilities to "protect our democracies".
The company has been active in Ukraine since 2022, providing capabilities and technology for frontline operations, with personnel deployed on an ongoing basis.
A software-only approach and deep partnerships with industry have led to rapid market adoption.
Photo: Helsing
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