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

PARIS – Germany’s Helsing has raised US$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 across the continent’s defense industry.

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

Valuation and Market Context

The latest round raises Helsing’s valuation from a reported €12 billion in June 2025. It follows a $1.2 billion funding round for German defense-tech firm Quantum Systems earlier this month, which 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.

Company Statement

“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 attributed investor demand to strong and growing confidence in AI-driven and software-defined defense technology. Despite being founded only in 2021, the company’s valuation places it among Europe’s most valuable defense firms.

Product Portfolio 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.

Broader European Defense-Tech Landscape

Other notable mega rounds in Europe this year include:

• 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. The company’s 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.

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:

• Co-Chairmen: Daniel Ek and Tom Enders
• Members: Jeannette zu Fürstenberg and former NATO Supreme Allied Commander Transformation Gen. Denis Mercier
• Co-Founders: Gundberg Scherf, Niklas Köhler, and Torsten Reil

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