Less than a year after its last major investment, Helsing announces the completion of its Series D funding round of 600 million euros. The funds come from both existing and new investors. Prima Materia is leading the round, with additional investments from Lightspeed Ventures, Accel, Plural, General Catalyst, Saab, and BDT and MSD Partners.
Helsing was founded in 2021 and 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 weapon systems and is increasingly producing drones, aircraft, and underwater drones itself.
“Europe is rapidly strengthening its defense capabilities in response to evolving geopolitical challenges. This creates an urgent need for investments in advanced technologies that ensure strategic autonomy and security readiness,”
said Daniel Ek, founder of Prima Materia and chairman of Helsing. He continues:
“Helsing is uniquely positioned as a leading AI company 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 Handelsblatt, Helsing’s company valuation has more than doubled from approximately five billion euros to twelve billion euros through the new funding round. This would make the Munich-based startup the most valuable startup in Germany.
In July 2024, Helsing completed a Series C funding round of 450 million euros, in which General Catalyst, Elad Gil, Accel, Saab, Lightspeed Ventures, Plural, and Greenoaks participated. Just ten months earlier, the startup founded in 2021 had achieved unicorn status following a 209 million euro investment in its Series B.
