Helsing Raises $1.8 Billion at an $18 Billion Valuation
Helsing has raised $1.8 billion at an $18 billion valuation, making it Europe’s largest defense startup. The company sells sovereignty-focused AI solutions to European governments. However, a significant portion of the funding came from American investors like JPMorgan Chase, Goldman Sachs, and the Canada Pension Plan.
A Quick Rise
Founded in 2021 by Gundbert Scherf, Torsten Reil, and Niklas Köhler, Helsing has rapidly expanded its product offerings, including battlefield software, drones, and underwater surveillance kits. The company now boasts approximately 900 staff across multiple European locations.
Sovereignty and American Investment
The Series E round was led by Dragoneer with Lightspeed co-leading. Helsing positions itself as a provider of home-grown defense AI to European governments, rather than relying on U.S. imports. Yet, the company’s cap table reveals substantial American involvement, complicating this narrative.
A Crowded Market
Helsing’s funding reflects a broader trend in European defense, with fellow German company Quantum Systems raising $1.2 billion at an $8 billion valuation earlier this month. This sector has become one of the most hotly pursued areas on the continent, driven by NATO rearmament and the need for sovereign capabilities.