Less than a year after its last major investment, Helsing announces the completion of its €600 million Series D financing round. The funding comes from both existing and new investors. Prima Materia is leading the round, with additional investments from Lightspeed Ventures, Accel, Plural, General Catalyst, and Saab, as well as BDT and MSD Partners.
Founded in 2021, Helsing positions itself as a defense company focused on AI-based capabilities to protect European democracies. To this end, the startup develops AI solutions for modern weapons systems and is now increasingly producing drones, aircraft, and underwater drones itself.
"Europe is rapidly strengthening its defense capabilities in response to changing geopolitical challenges. This creates an urgent need for investment in advanced technologies that ensure strategic autonomy and security preparedness,"
said Daniel Ek, founder of Prima Materia and Chairman of Helsing. He continues:
"As a leading AI company, Helsing is uniquely positioned to deliver these critical capabilities and innovations across all areas of defense. By doubling our investment, Prima Materia reaffirms its commitment to strengthening Europe's technological sovereignty—a goal that Helsing perfectly embodies."
According to information from the Handelsblatt Helsing's company valuation is said to have more than doubled from approximately five billion euros to twelve billion euros thanks to the new financing round. This would make the Munich-based startup the most valuable in Germany.
In July 2024, Helsing completed a Series C financing in a €450 million round, in which General Catalyst, Elad Gil, Accel, Saab, Lightspeed Ventures, Plural, and Greenoaks participated. Just ten months earlier, the startup, founded in 2021, had raised €209 million in its Series B reached unicorn status.
