Helsing raises $1.8bn as defence technology funding accelerates
The German defence start-up said the round valued it at $18bn and would fund new AI platforms for partner nations.
By Marcus V. Thorne · Markets Editor
· 3 min read
Helsing has raised $1.8 billion in a private funding round that values the Munich-based defence technology company at $18 billion, the company said Monday. The financing underscores continued investor appetite for companies building artificial intelligence, autonomous systems and software-defined military equipment.
The German start-up said both new and existing backers joined the round. Participants included JPMorgan Chase, the U.S. investment bank, as well as venture capital investors Lightspeed Venture Partners and Iconiq, according to Helsing.
Helsing said demand from investors was higher than the amount of funding available in the round. The company attributed that demand to confidence in defence technology built around artificial intelligence and software, according to its press release.
Capital for AI defence platforms
Helsing describes its business as a hardware and software platform for defence customers. Its products include drones and underwater surveillance weapons, alongside artificial intelligence and autonomous software designed to operate or support military systems.
The company said the proceeds would help speed development and integration of new AI platforms into the defence capabilities of a growing number of partner nations. In a private funding round, investors commit capital in exchange for ownership stakes, and the valuation indicates the company’s implied equity value based on the terms of that financing.
Helsing has sought to position itself as a European defence technology champion. The company said it remains predominantly European-owned, a point it described as evidence of its roots in the region.
Among its systems are HX-2 drones, which CNBC reported are being supplied to Ukraine’s army. The company also displayed a model of its CA-1 Europa drone at the International Aerospace Exhibition at Berlin ExpoCenter Airport in June, according to an image caption from Picture Alliance via Getty Images.
Private capital moves into defence technology
The round places Helsing among a group of defence start-ups drawing large commitments from private market investors. CNBC reported that U.S. rival Anduril raised $5 billion in May at a $61 billion valuation.
Other companies in the sector have also secured recent funding, according to CNBC. Shield AI and Saronic, an autonomous shipmaker, were cited among start-ups that have raised capital as investors increase exposure to defence technology businesses.
The financing comes as European defence companies face heightened attention from investors, governments and military customers. Helsing’s announcement focuses on AI-enabled and software-defined systems, a category in which companies aim to combine physical military equipment with software that can improve autonomy, surveillance or command functions.
Helsing did not disclose further financial terms for the round in the announcement cited by CNBC. The company’s stated use of funds is tied to expanding AI defence platforms for partner nations rather than to a single weapons programme.
This story draws on original reporting from CNBC.
