Spotify CEO Daniel Ek Leads €600m Investment in Helsing Defense Tech

Spotify CEO Daniel Ek has led a €600 million investment round in Helsing, a Munich-based defense technology company valued at €12 billion, making it one of Europe's most valuable private tech firms. Helsing, founded in 2021, initially focused on AI software that provides real-time, video-game-style visualizations of battlefields but has since expanded to develop strike drones, aircraft, and unmanned mini-submarines. The company has supplied thousands of strike drones to Ukraine amid the ongoing Russia-Ukraine war, highlighting the increasing role of AI, mass, and autonomy in modern warfare. Ek's investment firm, Prima Materia, spearheaded the funding round alongside backers like Saab, Lightspeed Ventures, Accel, and General Catalyst, bringing Helsing's total capital raised to €1.37 billion. This investment reflects Europe's urgent push to strengthen its defense capabilities in response to geopolitical challenges and a shift in military technology priorities worldwide. Helsing's growth is part of a broader defense tech boom that includes significant investments in similar companies across Europe and the U.S.