Helsing raises €450 million in Series C for AI defense technology

German company for defense AI Helsing has raised EUR 450 million in a Series C financing round led by General catalystElad Gil, Accel, Saab, Lightspeed, Plural and Greenoaks participated, bringing the company’s funding to over $760 million.

Helsing has been active in Ukraine since 2022 and recently founded the Defence Manufacturers Alliance, a joint initiative with the Ukrainian government.

Since its founding in 2021, the company has won a number of government contracts, including the electronic warfare upgrade of the German Eurofighter (with strategic investor and committed partner Saab AB), the AI ​​infrastructure for the Future Combat Air System (FCAS, with the HIS consortium), and a number of classified contracts in the maritime and land domains.

In a joint statement, the three company founders Niklas Köhler, Torsten Reil and Gundbert Scherf explained:

“European security is at a crossroads and Helsing will play a significant role in giving democratic societies the ability to deter and defend. But speed is of the essence.”

This new round of financing will enable us to further increase the pace and invest in large-scale R&D and capabilities across all areas.”

Jeannette zu Fürstenberg, MD and Head of Europe at General Catalyst, adds:

“Since its inception, we have seen the Helsing team working with great enthusiasm to build AI-based defense capabilities for European democracies. I am deeply convinced that Helsing is on its way to becoming a global leader in this category.

As we witness conflict on European soil for the first time in decades, we believe the role of companies like Helsing has never been more crucial.”

The funds will be used for product development and research and development, with a particular focus on capabilities to secure European sovereignty, including the protection of NATO’s eastern flank.

The financing round is subject to government approval.

Cover photo: Helsing. Photo: no credit given.