Defense AI startup Helsing has secured €450 million ($487 million) in a Series C funding round led by General Catalyst. This significant investment aims to enhance Helsing’s AI capabilities and expand its presence in European nations bordering Russia. The announcement coincided with NATO’s annual summit in Washington, D.C., where the Russian invasion of Ukraine was a primary focus.
Helsing plans to allocate €70 million of the new funding to Baltic defense projects over the next three years. As part of this initiative, the company has established a new entity in Estonia. Helsing, headquartered in Germany, also maintains offices in Munich, London, and Paris. The company’s mission to defend European democracies through advanced AI technology drives the expansion.
Helsing specializes in developing AI software that enhances the capabilities of defense systems. Its AI solutions are designed to process information from various defense platforms, improve weapon systems in drones and jet fighters, and support critical battlefield decisions. Co-CEO Gundbert Scherf emphasized the importance of their technology in modern warfare, citing the use of advanced tech in Ukraine’s defense against Russia.
“We’re a company founded on European values and defending European interests and democracies,” Scherf stated. “Ukraine has used technology for its defense against the full-scale Russian invasion, and I think us being able to help there and deploy our technology and execute the mission we had set out three and a half years ago, to use AI to protect our democracies, has been a big driver for us.”
Strategic Location and Support
Helsing’s move into Estonia reflects its strategic focus on strengthening defense along Europe’s eastern flank, from Finland through the Baltics to Poland. Estonia, known for its technological leadership and strong commitment to defending European democracies, was a natural choice for Helsing’s expansion.
Estonian Prime Minister Kaja Kallas welcomed Helsing’s presence, stating, “We need actions, not just words,” underscoring the urgency of bolstering defense capabilities in light of Russia’s increased military budget.
The Series C funding round, which theoretically values Helsing at approximately €4.95 billion ($5.4 billion), will support the development of AI capabilities and the expansion of the company’s 300-employee base. Helsing’s co-CEOs, Gundbert Scherf and Torsten Reil, have emphasized the importance of scalable AI solutions in defense, including their Project Centaur, which focuses on AI for air combat.
Strategic Partnerships and Contracts
Helsing has secured contracts with major defense entities, including Airbus SE and defense ministries in Germany and also Ukraine. Notable projects include the German Eurofighter Electronic Warfare upgrade in collaboration with Saab AB, and the AI infrastructure for the Future Combat Air System (FCAS) with consortium HIS. The company also holds several classified contracts in the maritime and land domains.
The defense tech sector has seen increased interest from investors, especially given the current geopolitical climate. Silicon Valley invested nearly $35 billion in defense tech startups in 2023, with over $9 billion invested so far in 2024. Helsing’s success highlights the growing importance of AI-driven defense solutions and the opportunities within this sector.
Helsing’s latest funding round marks a significant milestone in its mission to protect European democracies through advanced AI technology. With plans to expand its presence in the Baltics and further develop its AI capabilities, Helsing is well-positioned to play a critical role in the defense sector. The support from leading investors and strategic partnerships further underscores the company’s potential to become a global leader in defense AI.
See also: HerculesAI Secures $26 Million Series B Funding For AI-Driven Automation
