Helsing Raises €600M, Valuation Doubles to €12BN

German defence tech startup Helsing has raised €600 million in a Series D funding round led by Spotify cofounder Daniel Ek's investment firm Prima Materia, doubling its valuation to €12 billion and positioning it among Europe's most valuable startups. Founded in 2021, Helsing specializes in AI-powered defence technologies and has recently expanded its focus to include autonomous strike drones and underwater surveillance systems. The funding will accelerate Helsing’s development across multiple defence domains—air, land, sea, space, and cyber—addressing Europe's strategic autonomy amid rising geopolitical tensions, including ongoing conflict in Ukraine where Helsing supports frontline operations. Existing investors such as Lightspeed Ventures, Accel, Plural, General Catalyst, and Saab participated alongside new backers like BDT & MSD Partners. Ek emphasized the critical role of AI, mass, and autonomy in modern warfare, highlighting Helsing's leadership in delivering sovereign defence capabilities for Europe. This investment reflects heightened global interest in defence tech as governments increase spending to bolster security readiness and technological sovereignty.