Helsing Secures $694 Million to Build AI Defense Systems for Europe
European AI defense startup Helsing raises nearly $694 million in a round led by Spotify founder Daniel Ek's investment firm. The massive funding round highlights a major surge in global investor interest in modern defense technology.
Munich-based AI defense startup Helsing secures €600 million, or roughly $694 million, in a massive new funding round. The investment is led by Prima Materia, the investment firm co-founded by Spotify CEO Daniel Ek, who currently serves as the chairman of Helsing. Existing backers like Lightspeed Venture Partners, Accel, General Catalyst, and Swedish defense giant Saab also participate, alongside new investor BDT & MSD Partners.
Unlike traditional defense contractors, Helsing focuses on building AI systems that provide autonomous capabilities and precision at scale to help democracies defend themselves. This approach appeals heavily to modern investors who recognize the shifting landscape of global security. The company experiences this major cash injection while the broader venture capital market shrinks, proving that defense technology remains a rare bright spot for startup funding.
This enormous round reflects a much wider trend across the defense technology sector as geopolitical tensions continue to rise worldwide. European funding for defense, security, and resilience startups hits a record $5.2 billion in 2024, representing a 30 percent growth over two years. Helsing's raise mirrors the recent success of other modern defense companies, such as U.S.-based Anduril, which recently closes a $2.5 billion round at a $28 billion valuation.