Europe's Anduril rival Helsing raises $1.8 billion at $18 billion valuation - CNBC
European defense startup Helsing has raised $1.8 billion in a funding round, reaching an $18 billion valuation. The company specializes in AI-driven software and hardware for military applications, including drones currently used in Ukraine.
Why it matters
This reflects a significant surge in private capital investment toward autonomous defense technology and European military sovereignty.
European defense startup Helsing said Monday it has raised $1.8 billion in a funding round that values the German firm at $18 billion.
New and existing investors participated in the funding, including U.S. investment bank JPMorgan Chase and venture capital funds such as Lightspeed Venture Partners and Iconiq.
"Investor demand significantly exceeded the available allocation, reflecting strong and growing confidence in AI-driven and software-defined defence technology," Helsing said in a press release.
Helsing bills itself as a hardware and software platform for defense. It makes drones and underwater surveillance weapons, and it builds artificial intelligence and autonomous software to power these military applications.
The Munich-headquartered firm has positioned itself as a European champion in defense, with its HX-2 drones among the systems that are being supplied to the Ukrainian army. Helsing has benefited from a renewed focus from Europe on building more sovereign capabilities in technology and defense.
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