Helsing, a German AI defense company, is reportedly in discussions to secure €370 million in Series C funding, potentially valuing the company at an impressive $4 billion. According to Forbes, this funding round is being led by the US venture capital giant General Catalyst.
Previous Funding Success
In September of last year, Helsing raised €209 million in Series B funding, reinforcing its position as Europe’s most well-funded defense tech startup and a leader in AI for defense. If the Series C funding is secured, Helsing’s total funds raised will approach €700 million.
Company Overview
Founded in 2021, Helsing focuses on developing AI-based capabilities to “protect our democracies.” The company has been particularly active in Ukraine since 2022, providing advanced technology and capabilities for frontline operations, with personnel continuously deployed to support these efforts.
Helsing’s innovative software-only approach and strong industry partnerships have led to rapid market adoption.
Strategic Projects and Collaborations
- Luftwaffe Eurofighters: In June, the German Ministry of Defence selected Helsing, in collaboration with Saab Germany, to upgrade 15 of the Luftwaffe’s Eurofighters. These upgrades include AI-enabled cognitive electronic warfare (EW) capabilities, essential for future Suppression of Enemy Air Defenses (SEAD) missions.
- Future Combat Air System (FCAS): In August 2023, Helsing and its consortium partners won a contract to provide the AI backbone for the FCAS program. This European initiative, under development by Dassault Aviation, Airbus, and Indra Sistemas, aims to create a cutting-edge combat system of systems.
- Ukrainian Drones: In February, Helsing’s AI expertise was recognized when they signed a non-binding agreement to provide AI capabilities for Ukrainian drones, further demonstrating the company’s influence and reach in the defense tech sector.
Future Prospects
The anticipated Series C funding will significantly bolster Helsing’s ability to expand its technological innovations and strategic partnerships. This capital influx is expected to enhance the company’s market position and support its mission to leverage AI in defense for protecting democracies globally.
Conclusion
Helsing’s potential $4 billion valuation underscores the critical role AI is playing in modern defense strategies. With substantial funding and strategic collaborations, Helsing is poised to continue leading advancements in AI defense technology, solidifying its position as a key player in the global defense tech landscape.
