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Defense Startup Helsing Raises €600 Million to Reach €12 Billion Valuation

Led by Daniel Ek’s Prima Materia, the investment positions Helsing to scale AI-driven drones in Ukraine alongside Bundeswehr trials

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Overview

  • Helsing secured €600 million in its Series D round with participation from Lightspeed Ventures, Accel and Saab alongside Prima Materia
  • The new funding more than doubles the company’s value to €12 billion, elevating it to Europe’s second German decacorn after Celonis
  • Helsing’s HX-2 kamikaze drones are operational with the Ukrainian military and undergoing trials by the German Bundeswehr, complemented by new underwater systems and jet-control AI
  • A partnership with Saab integrates Helsing’s AI software into the Swedish group’s defense platforms
  • Since its 2021 founding, Helsing has raised €1.37 billion in total funding and plans an initial public offering rather than selling the company