Home / Business and Economy / Helsing's $18bn Valuation Signals Defence Tech Boom
Helsing's $18bn Valuation Signals Defence Tech Boom
9 May
Summary
- Helsing secures $1.2bn in new funding at an $18bn valuation.
- Dragoneer Investment Group leads the funding round, with Lightspeed co-leading.
- Company's valuation significantly increased since its last funding round.
German defence technology group Helsing, backed by Daniel Ek, is nearing a significant $1.2 billion funding round that would value the company at approximately $18 billion. This valuation cements Helsing's position as one of Europe's most valuable startups.
The funding initiative is spearheaded by US firm Dragoneer Investment Group, with Lightspeed Venture Partners also participating as a co-lead. This move reflects a broader investor surge in the defence sector, spurred by heightened military expenditures across European nations following Russia's 2022 invasion of Ukraine.
Helsing's valuation has seen a considerable increase from less than a year ago, when it secured €600 million at a €12 billion ($14 billion) valuation. The company, founded in 2021, initially focused on AI software for battlefield data analysis but has since expanded to produce kamikaze drones and autonomous underwater vessels.
Despite some industry warnings of a potential 'bubble,' Helsing's latest fundraising was reportedly oversubscribed multiple times. The company has also been selected to supply drones to the German armed forces in a deal initially valued at €269 million, with future options potentially reaching €1.46 billion.
