Paris: Germany’s Helsing raised US$1.8 billion in Europe’s biggest-ever funding round for a defence-technology startup, valuing the company at $18 billion and continuing a flurry of mega rounds for the continent’s defence industry.
Munich-based Helsing raised the funding in a Series E funding round, with investor demand “significantly” exceeding the available allocation, the company said in a statement. The company remains predominantly European-owned after the fund raising, Helsing said.
The latest round raises Helsing’s valuation from a reported €12 billion in June 2025, and follows a $1.2 billion funding round for German defence-tech firm Quantum Systems this month that valued that company at $8 billion. Defence technology has been one of the fastest-growing areas of venture capital funding on the back of rising military budgets worldwide, and in Europe in particular.
“This latest investment will accelerate Helsing’s mission to develop and integrate entirely new AI platforms into the defence capabilities of its growing number of partner nations,” the company said.
Investor demand reflected strong and growing confidence in AI-driven and software-defined defence technology, Helsing said. The company’s valuation puts it among Europe’s most valuable defence companies despite having been founded only in 2021.
The German company’s offer includes the HX-2 strike drone and the Altra AI-enabled battlefield-operations software as well as concepts including the proposed CA-1 autonomous fighter jet, and the firm works with the likes of Rheinmetall, Kongsberg and Saab to implement its AI solutions.
Other mega rounds in Europe this year include the United Kingdom’s Kraken Technology, which makes autonomous vessels, and which raised $175 million this month in a Series B funding round that valued the startup at $1 billion. A mega round is shorthand in the investment industry for a fund raising of $100 million or more.
German unmanned-systems maker Stark raised €500 million in June ($570 million) at a reported valuation of €3.2 billion, while Finland’s ICEYE, whose radar satellites are being ordered by militaries all over Europe, raised €450 million in a Series F round last month. French defence-tech startup Harmattan AI raised $200 million in January in a Series B round led by Dassault Aviation that valued the company at €1.4 billion, creating the country’s first defence unicorn.
Helsing said new and existing investors participated in the funding round, including Lightspeed Venture Partners and General Catalyst. The company’s existing investors include Prima Materia, Accel and Greenoaks.
The company said its board remains unchanged with Daniel Ek and Tom Enders as co-chairmen, members Jeannette Zu Fürstenberg and former NATO Supreme Allied Commander Transformation General Denis Mercier, and co-founders Gundberg Scherf, Niklas Köhler and Torsten Reil.
