Helsing raises $1.8bn backed by Goldman and Lightspeed
Defence startup Helsing has raised $1.8bn in fresh funding at an $18bn valuation, as investor appetite for military tech continues to accelerate.
The Munich-headquartered company announced on Monday a Series E backed by new and existing investors including Dragoneer Investment Group, Lightspeed Venture Partners, Iconiq, Goldman Sachs Alternatives and JPMorganChase.
Founded in 2021, Helsing initially focused on battlefield AI software before expanding aggressively into hardware over the past two years. The company now develops autonomous strike drones, AI pilot software and underwater surveillance systems alongside its original software platform.
The round marks up Helsing’s valuation from the €12bn ($13.7bn conversion) price tag it secured last year and ranks among the largest funding rounds ever raised by a European startup.
Helsing said demand from investors significantly exceeded the amount of capital available, highlighting growing confidence in AI-powered defence technology. The company added that it remains predominantly European-owned, despite attracting global investors.
Speaking to Sifted during a rare media day at the company’s Munich headquarters earlier this year, cofounder and co-CEO Gundbert Scherf said the shift into hardware was driven by demand from customers wanting AI capabilities deployed more quickly in the field.
The company has since unveiled its HX-2 autonomous strike drone, pledged to deliver thousands of drones to Ukraine and recently announced plans for a manufacturing facility in Plymouth as part of a £350m investment in the UK to produce its AI-powered underwater surveillance gliders.
Helsing works with governments including Germany, Estonia, the UK and Ukraine but has repeatedly stressed that while it considers itself a “transatlantic” company, it has no contracts with the US government and remains under European control.
The new funding will be used to accelerate the development of AI platforms for European and allied armed forces, as governments across the continent increase defence spending and seek greater technological sovereignty.
