Prime Highlights
- German defence startup Helsing raises $1.8 billion, reaching an $18 billion valuation.
- Investor demand exceeded allocation, Helsing says, reflecting confidence in AI-driven defence tech.
Key Facts
- Helsing makes drones and underwater surveillance systems powered by AI and autonomous software.
- Rival US firm Anduril raised $5 billion at a $61 billion valuation in May.
Background
German defence startup Helsing has raised $1.8 billion in a new funding round that values the company at $18 billion, the firm announced on Monday.
New and existing investors took part in the round, including US investment bank JPMorgan Chase and venture capital funds Lightspeed Venture Partners and Iconiq. Helsing said investor demand had significantly exceeded the available allocation, reflecting growing confidence in AI-driven and software-defined defence technology.
The Munich-based company describes itself as a hardware and software platform for defence. It makes drones and underwater surveillance weapons, and builds artificial intelligence and autonomous software to power these military applications. Helsing has positioned itself as a European champion in defence, with its HX-2 drones among the systems already supplied to the Ukrainian army amid the ongoing conflict.
The company said it remained predominantly European-owned, underscoring its deep roots in the region, and added that the fresh funding would accelerate its mission to develop and integrate new AI platforms into its increasing number of partner countries’ defense capabilities.
Helsing has benefited from Europe’s renewed focus on building sovereign technology and defence capabilities, as governments across the continent look to reduce reliance on external suppliers for critical military systems.
Private market investors have been keen to back new-age defence companies in recent months. In the US, rival firm Anduril raised $5 billion at a $61 billion valuation in May. Other startups that have recently secured funding include drone maker Shield AI and autonomous shipbuilder Saronic, which raised $1.75 billion earlier this year.
