AI warfare push makes Helsing one of Europe’s 5 most valuable tech firms

Munich-based defence tech startup Helsing has raised €600mn as geopolitical tensions trigger a flood of capital into AI warfare.

The large investment was led by Spotify CEO Daniel Ek’s VC firm Prima Materia. It brings the company’s total raised to north of €1.3bn, building on a €450mn funding round in July last year. 

Helsing didn’t disclose its updated valuation. However, according to the Financial Times, the unicorn company is now worth €12bn, making it one of Europe’s five most valuable private tech companies. 

Prima Materia was one of Helsing’s earliest backers — a move that sparked boycotts among artists on Spotify, who feared their use of the platform was helping to fund war. That backlash clearly hasn’t deterred Ek, though, who said Helsing’s technology ensures “strategic autonomy” for Europe.

“By doubling down on our investment, Prima Materia reaffirms its commitment to empowering Europe ...