Germany's Helsing raises $1.8B in Series E, Europe's largest defense-startup round

PARIS – Germany’s Helsing has raised $1.8 billion in Europe’s largest-ever funding round for a defense-technology startup, valuing the company at $18 billion. The deal continues a wave of mega rounds for the continent’s defense industry.

Munich-based Helsing secured the funding in a Series E round, with investor demand “significantly” exceeding the available allocation, the company said in a statement on Monday. Helsing noted that the company remains predominantly European-owned following the fundraise.

The latest round raises Helsing’s valuation from a reported €12 billion in June 2025, and follows a $1.2 billion funding round for German defense-tech firm Quantum Systems this month that valued that company at $8 billion. Defense technology has been one of the fastest-growing areas of venture capital funding, driven by rising military budgets worldwide, particularly in Europe.

“This latest investment 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 company said.

Helsing stated that investor demand reflected strong and growing confidence in AI-driven and software-defined defense technology. The company’s valuation places it among Europe’s most valuable defense companies, despite having been founded only in 2021.

Products and Partnerships

Helsing’s offerings include:

• HX-2 strike drone
• Altra AI-enabled battlefield-operations software
• CA-1 autonomous fighter jet (proposed concept)

The company works with Rheinmetall, Kongsberg, and Saab to implement its AI solutions.

Other European Mega Rounds in 2026

• Kraken Technology (UK) – Raised $175 million this month in a Series B round, valuing the autonomous vessel maker at $1 billion.
• Stark (Germany) – Raised €500 million ($570 million) in June at a reported valuation of €3.2 billion.
• ICEYE (Finland) – Raised €450 million in a Series F round last month; its radar satellites are being ordered by militaries across Europe.
• Harmattan AI (France) – Raised $200 million in January in a Series B round led by Dassault Aviation, valuing the company at €1.4 billion and creating France’s first defense unicorn.

A mega round is shorthand in the investment industry for a fundraise of $100 million or more.

Investors and Board

Helsing said new and existing investors participated in the funding round, including Lightspeed Venture Partners and General Catalyst. Existing investors include Prima Materia, Accel, and Greenoaks.

The company’s board remains unchanged:

• Daniel Ek and Tom Enders – Co-chairmen
• Jeannette zu Fürstenberg – Member
• Gen. Denis Mercier – Member, former NATO Supreme Allied Commander Transformation
• Gundberg Scherf, Niklas Köhler, and Torsten Reil – Co-founders

About the Author

Rudy Ruitenberg is a Europe correspondent for Defense News. He began his career at Bloomberg News and has experience reporting on technology, commodity markets, and politics.

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