The Munich-based startup founded in 2021 Helsing equips existing weapons systems with AI that analyzes information coming in from on-board sensors. The solution is being used in an initial project with the German Air Force, in which 15 Eurofighters are being equipped with artificial intelligence. For this purpose, the multirole combat aircraft are first equipped with sensors from Saab. Helsing’s AI-based software then uses the sensor data to enable cognitive electronic warfare (EW), particularly in the areas of reconnaissance and self-protection against enemy air defense. In doing so, the company commits to transparency and explainability and relies on “human in the loop.” This means that the AI does not itself determine military targets, but rather supports officers in analyzing the situation.
In addition to other projects with Western nations, Helsing has also been active in Ukraine since 2022. There, the Munich-based startup recently founded the Defence Manufacturers Alliance, a joint initiative with the Ukrainian government.
Now Helsing has successfully completed its series C funding round and raised 450 million euros. General Catalyst is leading the round, with other participating investors being Elad Gil, Accel, Saab, Lightspeed, Plural, and Greenoaks. The fresh funds will be used for product development and research. The particular focus is on capabilities for securing European sovereignty, with special attention to protecting NATO’s eastern flank.
“As we are experiencing war on European soil for the first time in decades, the role of defense companies like Helsing is of great importance.”
The three company founders Niklas Köhler, Torsten Reil, and Gundbert Scherf say in a joint statement:
“European security is at a crossroads, and Helsing will play a significant role in giving democracies the capability to deter and defend. Speed is of crucial importance. This funding round enables us to move even faster and invest in major R&D projects and AI capabilities.”
Jeannette zu Fürstenberg, managing director and head of Europe at General Catalyst, adds:
“Since the founding of Helsing, we have been able to observe how the Helsing team is working with determination to build AI-based defense capabilities for European democracies. I am firmly convinced that Helsing is on its way to becoming a leading company in the defense sector. As we are experiencing war on European soil for the first time in decades, the role of defense companies like Helsing is of great importance.”
Helsing’s last funding round was not quite a year ago. In September 2023, the startup announced the completion of its series B with 209 million euros. This also gave the startup unicorn status, meaning a company valuation of over one billion dollars. In total, the Munich-based company has raised 762 million euros so far. Munich Startup Insights estimates the company valuation after the series C at 1.8 to 2.7 billion euros. Handelsblatt even puts it at 4.5 billion euros.
