German defence startup Helsing raises 600 mln euros
STOCKHOLM, June 17 (Reuters) - German defence AI startup Helsing has raised 600 million euros ($693.24 million) in its latest funding round from the likes of Lightspeed Ventures, Accel, Saab SAABb.ST and Prima Materia, an investment firm founded by Spotify SPOT.N CEO Daniel Ek.
While Helsing did not disclose its valuation, FT reported that the funding round valued the company at 12 billion euros.
The company last raised 450 million euros last year and the latest round takes the total funding to 1.4 billion euros.
Venture capitalists are looking to invest in European defence startups after Russia's 2022 invasion of Ukraine and U.S. President Donald Trump's prodding of NATO countries have spurred the EU to ramp up its military spending plans.
Two other European defence startups - German drone maker Quantum Systems and Portuguese drone company Tekever - have achieved valuations of more than $1 billion in funding rounds earlier this year.
Last week Helsing and Saab conducted combat testing of a Gripen E warplane flown by AI against a real fighter pilot, making it the first publicly known instance of AI being tested in a warplane beyond visual range rather than in close-range combat.
($1 = 0.8655 euros)
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