German defence AI company Helsing has raised €450 million in a Series C financing round led by General Catalyst. Elad Gil, Accel, Saab, Lightspeed, Plural, and Greenoaks participated. This brings the company’s funding to over $760 million.
Helsing has been active in Ukraine since 2022 and recently established the Defence Manufacturers Alliance, a joint initiative with the Ukrainian government.
Since its founding in 2021, the company has secured a series of government contracts, including the German Eurofighter Electronic Warfare upgrade (with strategic investor and committed partner Saab AB), the AI infrastructure for the Future Combat Air System (FCAS, with consortium HIS), and a number of classified contracts in the maritime and land domain.
In a joint statement, the company’s three founders Niklas Köhler, Torsten Reil and Gundbert Scherf said:
“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 funding round allows us to further up the tempo and invest in large-scale R&D and capabilities across all domains.”
Jeannette zu Fürstenberg, MD and Head of Europe at General Catalyst, adds:
“Since its inception, we have been able to watch the Helsing team execute with a great sense of urgency to build AI-based defence capabilities for European democracies. I have deep conviction that Helsing is on the path to becoming a global category leader.
As we witness battlefronts on European soil for the first time in decades, we believe the role of companies like Helsing has never been more critical.”
The funds will be used for product development and R&D; a particular focus will be on capabilities to secure European sovereignty including protecting the NATO Eastern Flank.
The financing round is subject to government approval.
Lead image: Helsing. Photo: uncredited.
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