Military AI startup Helsing has raised a whopping €450 million and is valued at €5 billion. The German company said the war chest will fund the security of NATO's eastern flank.
Founded in 2021, Helsing has quickly become one of Europe's leading defense technology providers and is now also one of the continent's most valuable AI startups.
This rapid increase coincided with growing concerns about the threat posed to Europe by Russia.
Since the start of the full-scale invasion of Ukraine in 2022, defense budgets have skyrocketed across the region. Helsing offers an interesting target for the funds.
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The company develops AI software for weapons, vehicles and military strategies. Its technology has been integrated into battlefield simulations, electronic warfare for fighter jets and drones in Ukraine. The startup has even ventured into space, improving satellite signal intelligence and jamming.
With the new funds, Helsing plans to further improve its AI. The company is committed to focusing on Protecting European sovereignty – especially along the NATO border with Russia.
The three Helsing founders Niklas Köhler, Torsten Reil and Gundbert Scherf described the renewed investment as urgent.
“European security is at a crossroads and Helsing will play a significant role in giving democratic societies the ability to deter and defend. But speed is of the essence,” they said.
“This new round of financing will enable us to further increase the pace and invest in large-scale R&D and capabilities across all areas.”
The Series C capital raise was led by VC firm General Catalyst. Elad Gil, Accel, Saab, Lightspeed, Plural and Greenoak also participated.
Jeannette zu Fürstenberg, MD and Head of Europe at General catalysttold TNW that Helsing is one of their largest AI investments on the continent.
The startup is “evolving into a vertical leader in the defense AI category,” she said, “with best-in-class AI technology developed by European talent.”
