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Helsing Secures $1.8 Billion Series E, Valuation Reaches $18 Billion
On Monday, Munich‑based defense startup Helsing closed a $1.8 billion Series E round that pushed its valuation to $18 billion, marking one of the largest capital raises ever completed by a European defense firm. The funding was led by a blend of fresh and existing backers, including Dragoneer Investment Group, Lightspeed Venture Partners, Iconiq, Goldman Sachs Alternatives and JPMorgan Chase.
Founded in 2021, Helsing began as a specialist in battlefield artificial‑intelligence software. Over the past two years it has broadened its offering to encompass hardware, producing autonomous strike drones, AI‑pilot software and underwater surveillance systems. Its flagship drone, the HX‑2, is a software‑defined platform that can be mass‑produced and engage targets at ranges of up to 100 km.
In addition to the Series E proceeds, Helsing announced a £350 million investment in the United Kingdom. The capital will build a new manufacturing facility in Plymouth to produce AI‑powered underwater gliders, further expanding the company’s hardware footprint.
The round follows a $12 billion valuation secured in the previous year, underscoring a sharp uptick in investor appetite for military technology. Helsing said that demand from investors far outstripped the amount of capital available, reflecting growing confidence in AI‑powered defense solutions. The company emphasized that it remains predominantly European‑owned, despite attracting global investors.
Cofounder and co‑CEO Gundbert Scherf explained that the move into hardware was driven by customer demand for rapid deployment of AI capabilities in the field. Helsing has already pledged to deliver thousands of HX‑2 drones to Ukraine and works with governments in Germany, Estonia, the United Kingdom and Ukraine. The company has repeatedly stated that it considers itself a “transatlantic” company, but it has no contracts with the United States government and remains under European control.
The new capital will accelerate the development of AI platforms for European and allied armed forces, as governments across the continent increase defense spending and seek greater technological sovereignty. Helsing’s expansion into hardware and its focus on autonomous systems place it at the intersection of two key trends: the growing use of drones in modern conflict and the push for European defense self‑reliance.
At present, Helsing is positioned to scale production of its HX‑2 drones and underwater gliders while continuing to develop its AI software stack. The company has not yet announced a timetable for the next earnings report or any further corporate actions. The Series E round provides the financial foundation for Helsing to advance its product pipeline and deepen partnerships with European defense ministries.
In short, Helsing’s latest funding milestone signals a robust appetite for AI‑driven defense technology in Europe and a willingness among investors to back a company that blends software innovation with hard‑copy capabilities. The capital injection will enable Helsing to meet the urgent needs of its customers while solidifying its position as a leading player in the continent’s evolving defense landscape.
Founded in 2021, Helsing began as a specialist in battlefield artificial‑intelligence software. Over the past two years it has broadened its offering to encompass hardware, producing autonomous strike drones, AI‑pilot software and underwater surveillance systems. Its flagship drone, the HX‑2, is a software‑defined platform that can be mass‑produced and engage targets at ranges of up to 100 km.
In addition to the Series E proceeds, Helsing announced a £350 million investment in the United Kingdom. The capital will build a new manufacturing facility in Plymouth to produce AI‑powered underwater gliders, further expanding the company’s hardware footprint.
The round follows a $12 billion valuation secured in the previous year, underscoring a sharp uptick in investor appetite for military technology. Helsing said that demand from investors far outstripped the amount of capital available, reflecting growing confidence in AI‑powered defense solutions. The company emphasized that it remains predominantly European‑owned, despite attracting global investors.
Cofounder and co‑CEO Gundbert Scherf explained that the move into hardware was driven by customer demand for rapid deployment of AI capabilities in the field. Helsing has already pledged to deliver thousands of HX‑2 drones to Ukraine and works with governments in Germany, Estonia, the United Kingdom and Ukraine. The company has repeatedly stated that it considers itself a “transatlantic” company, but it has no contracts with the United States government and remains under European control.
The new capital will accelerate the development of AI platforms for European and allied armed forces, as governments across the continent increase defense spending and seek greater technological sovereignty. Helsing’s expansion into hardware and its focus on autonomous systems place it at the intersection of two key trends: the growing use of drones in modern conflict and the push for European defense self‑reliance.
At present, Helsing is positioned to scale production of its HX‑2 drones and underwater gliders while continuing to develop its AI software stack. The company has not yet announced a timetable for the next earnings report or any further corporate actions. The Series E round provides the financial foundation for Helsing to advance its product pipeline and deepen partnerships with European defense ministries.
In short, Helsing’s latest funding milestone signals a robust appetite for AI‑driven defense technology in Europe and a willingness among investors to back a company that blends software innovation with hard‑copy capabilities. The capital injection will enable Helsing to meet the urgent needs of its customers while solidifying its position as a leading player in the continent’s evolving defense landscape.
