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yesterday

Daniel Ek Leads €600 Million Round Valuing Helsing at €12 Billion

The funding strengthens Helsing's expansion into drone and naval AI systems, signaling Europe’s drive for defense independence.

A message reading "AI artificial intelligence," a keyboard and robot hands are seen in this illustration created on January 27, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
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Overview

  • Daniel Ek’s Prima Materia led the €600 million round with participation from Lightspeed Ventures, Accel, Plural, General Catalyst, Saab and new backers BDT & MSD Partners.
  • The fresh capital lifts the Munich-based firm’s valuation to €12 billion, making it one of Europe’s most valuable private tech companies.
  • Helsing’s AI software integrates battlefield sensor and weapons data into real-time visualizations to guide military decision-making.
  • Proceeds will fund production of strike drones, unmanned mini submarines and other AI-driven defense hardware.
  • The financing underscores Europe’s effort to strengthen strategic autonomy in defense technology following Russia’s invasion of Ukraine and shifting U.S. policy.