European defence technology startup Helsing has raised €600 million in a Series D funding round, led by Prima Materia, alongside existing investors Lightspeed Ventures, Accel, Plural, General Catalyst and SAAB and new investors BDT & MSD Partners, according to a media release.
Prima Materia is the venture capital firm co-founded by Spotify CEO Daniel Ek, who is also chairman of Helsing.
“As Europe rapidly strengthens its defence capabilities in response to evolving geopolitical challenges, there is an urgent need for investments in advanced technologies that ensure its strategic autonomy and security readiness,” said Daniel Ek, Founder, Prima Materia, and Chairman, Helsing. “Helsing is uniquely positioned with its AI leadership to deliver these critical capabilities in all-domain defence innovation. By doubling down on our investment, Prima Materia reaffirms its commitment to empowering Europe’s technological sovereignty—an ambition Helsing perfectly embodies.”
The announcement follows Helsing’s Series C funding of €450 million in July 2024, involving General Catalyst, Elad Gil, Accel, Saab, Lightspeed Ventures, Plural and Greenoaks.
In 2024, venture funding in Europe’s defense, security and resilience sector reached an all-time high of USD 5.2 billion, according to a report from the NATO Innovation Fund.
Founded in 2021, Helsing sells software that uses AI technology to analyze large amounts of sensor and weapons system data from the battlefield to inform military decisions in real time, according to a report by CNBC. Last year, the startup started manufacturing its own line of military drones, HX-2.
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