Defense startup Helsing raises $1.8 billion at $18 billion valuation
A model of the CA-1 Europa drone produced by defense contractor Helsing is on display in front of the company’s stand at the International Aerospace Exhibition (ILA) at Berlin ExpoCenter Airport.
Sebastian Christoph Gollnow | Picture Alliance | Getty Images
European defense startup Helsing said Monday it has raised $1.8 billion in a financing round that values the German firm at $18 billion.
New and existing investors, including US investment bank JPMorgan Chase and venture capital funds such as Lightspeed Venture Partners and Iconiq, participated in the financing.
“Investor demand has significantly exceeded available allocation, reflecting strong and growing confidence in AI-driven and software-defined defense technology,” Helsing said in a press release.
Helsing bills itself as a defensive hardware and software platform. It produces drones and underwater surveillance weapons and develops artificial intelligence and autonomous software to power these military applications.
The company, headquartered in Munich, has positioned itself as the European champion in defense with its HX-2 unmanned aerial vehicles among the systems supplied to the Ukrainian army. Helsing benefited from Europe’s renewed focus on building more dominant capabilities in technology and defense.
“The company remains predominantly European-owned, underlining its deep roots in Europe,” Helsing said in the press release. he said.
The latest funding round will “accelerate Helsing’s mission to develop and integrate entirely new AI platforms into the defense capabilities of a growing number of partner countries,” the startup added.
Private market investors were eager to back new-age defense companies. In the US, Helsing’s rival Anduril raised $5 billion in May at a $61 billion valuation. Shield AI and autonomous shipmaker Saronic are among other startups that have recently received funding.
