Latest news with #Helsing
CNBC
3 days ago
- Business
- CNBC
Spotify's Daniel Ek leads $694 million investment in defense startup Helsing
European defense technology startup Helsing on Tuesday said that it's raised 600 million euros ($693.6 million) in a bumper new round of funding. The investment was led by Prima Materia, the venture capital firm founded by Spotify CEO Daniel Ek and by Shakil Khan, an early investor in the popular music streaming app. Ek is also chairman of Helsing. Existing investors Lightspeed Venture Partners, Accel, Plural, General Catalyst and Saab also put money in, alongside new investors BDT & MSD Partners. Defense and the technology behind it have become a hot area for investors lately, amid major global conflicts, including the Ukraine war to Israel-Gaza. Last week saw a further escalation of war in the Middle East as Israel launched a series of airstrikes against Iran. In 2024, venture funding in Europe's defense, security and resilience sector reached an all-time high of $5.2 billion, according to a recent report from the NATO Innovation Fund. The sector grew 30% in the past two years, outperforming the broader VC market, which saw a 45% decline over the same period. Founded in 2021, Helsing sells software that uses artificial intelligence technology to analyze large amounts of sensor and weapons system data from the battlefield to inform military decisions in real time. Last year, the startup also began manufacturing its own line of military drones, called HX-2. Helsing, which operates in the U.K., Germany and France, said it would use the fresh cash to invest in Europe's "technological sovereignty" — which refers to attempts to onshore the development and production of critical technologies, such as AI. 'As Europe rapidly strengthens its defence capabilities in response to evolving geopolitical challenges, there is an urgent need for investments in advanced technologies that ensure its strategic autonomy and security readiness," Ek said in a statement out Tuesday. Helsing did not disclose its new valuation following the latest financing round, which is subject to "certain approvals," according to a statement. The firm was previously valued at around 5 billion euros in a 450 million euro funding round led by General Catalyst last year.
Time of India
4 days ago
- Business
- Time of India
German defence startup Helsing raises $693 million in latest investment round
Live Events German defence start-up Helsing has raised 600 million euros ($693.30 million) in its latest investment round, lead by Spotify founder Daniel Ek , the firm said on latest investment round has raised Helsing's value to $12 billion, the Financial Times reported on Tuesday, citing people familiar with the positions the start-up among the top five private tech companies in Europe, the FT investment round was lead by Prima Materia, an investment company founded by Ek and Spotify investor Shakil Khan, which doubled its investment in the investors included Lightspeed Ventures, Accel , Plural, General Catalyst and SAAB, Helsing said in a Munich-based defence start-up, which specializes in AI software and is moving to produce its own drones, aircraft and submarines, hopes to benefit from governments ramping up defence spending amid rising geopolitical tensions.
Yahoo
4 days ago
- Business
- Yahoo
German defence start-up Helsing raises 600 million euros in latest investment round
BERLIN (Reuters) -German defence start-up Helsing has raised 600 million euros ($693.30 million) in its latest investment round, lead by Spotify founder Daniel Ek, the firm said on Tuesday. The latest investment round has raised Helsing's value to $12 billion, the Financial Times reported on Tuesday, citing people familiar with the matter. This positions the start-up among the top five private tech companies in Europe, the FT added. The investment round was lead by Prima Materia, an investment company founded by Ek and Spotify investor Shakil Khan, which doubled its investment in the firm. Other investors included Lightspeed Ventures, Accel, Plural, General Catalyst and SAAB, Helsing said in a statement. The Munich-based defence start-up, which specializes in AI software and is moving to produce its own drones, aircraft and submarines, hopes to benefit from governments ramping up defence spending amid rising geopolitical tensions. ($1 = 0.8654 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Star
4 days ago
- Business
- The Star
German defence start-up Helsing raises 600 million euros in latest investment round
FILE PHOTO: A message reading "AI artificial intelligence," a keyboard and robot hands are seen in this illustration created on January 27, 2025. REUTERS/Dado Ruvic/Illustration/File Photo BERLIN (Reuters) -German defence start-up Helsing has raised 600 million euros ($693.30 million) in its latest investment round, lead by Spotify founder Daniel Ek, the firm said on Tuesday. The latest investment round has raised Helsing's value to $12 billion, the Financial Times reported on Tuesday, citing people familiar with the matter. This positions the start-up among the top five private tech companies in Europe, the FT added. The investment round was lead by Prima Materia, an investment company founded by Ek and Spotify investor Shakil Khan, which doubled its investment in the firm. Other investors included Lightspeed Ventures, Accel, Plural, General Catalyst and SAAB, Helsing said in a statement. The Munich-based defence start-up, which specializes in AI software and is moving to produce its own drones, aircraft and submarines, hopes to benefit from governments ramping up defence spending amid rising geopolitical tensions. ($1 = 0.8654 euros) (Reporting by Isabel Demetz, editing by Rachel More)
CNA
4 days ago
- Business
- CNA
German defence start-up Helsing raises 600 million euros in latest investment round
BERLIN :German defence start-up Helsing has raised 600 million euros ($693.30 million) in its latest investment round, lead by Spotify founder Daniel Ek, the firm said on Tuesday. The latest investment round has raised Helsing's value to $12 billion, the Financial Times reported on Tuesday, citing people familiar with the matter. This positions the start-up among the top five private tech companies in Europe, the FT added. The investment round was lead by Prima Materia, an investment company founded by Ek and Spotify investor Shakil Khan, which doubled its investment in the firm. Other investors included Lightspeed Ventures, Accel, Plural, General Catalyst and SAAB, Helsing said in a statement. The Munich-based defence start-up, which specializes in AI software and is moving to produce its own drones, aircraft and submarines, hopes to benefit from governments ramping up defence spending amid rising geopolitical tensions. ($1 = 0.8654 euros)
