Helsing, a European defense AI startup, raises $1.8B at $18B valuation, with JPMorgan among investors. Funds go to new drone and AI platforms as European defense spending surges.
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Helsing said Monday it has raised $1.8 billion in a funding round valuing the German defense startup at $18 billion.
New and existing investors participated, including U.S. investment bank JPMorgan Chase and Lightspeed Venture Partners, among others.
"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 builds drones and underwater surveillance equipment, along with AI software for military applications. The Munich-based firm has positioned itself as a European champion in defense. Its HX-2 drones are among the systems supplied to Ukraine. The company has benefited from Europe's push for more sovereign technology and defense capabilities.
"The company remains predominantly European-owned, underscoring its deep roots in Europe," Helsing said in the release. The latest funding will "accelerate Helsing's mission to develop and integrate entirely new AI platforms into the defense capabilities of its growing number of partner nations," the startup added.
Private market investors have been eager to back new-age defense companies. In the U.S., Helsing rival Anduril raised $5 billion at a $61 billion valuation in May. Shield AI and autonomous shipbuilder Saronic are among other startups that have raised funding recently.
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