German defense startup is worth billions
The Munich-based defense technology startup Helsing is reportedly in talks with investors about a financing round of nearly $500 million. This would value the two-year-old company at approximately $4.5 billion, according to the "Financial Times." This would represent a tripling of the company's valuation in less than a year.
Helsing develops software and artificial intelligence (AI) for use in the defense sector, including for fighter jets, submarines, and tanks. The company works with military forces, government agencies, and industry partners to update technologically outdated equipment to the latest standards.
For example, in collaboration with the Swedish investor Saab, Helsing is focusing on upgrading some older Eurofighter jets of the German military for electronic warfare capabilities by 2028. The AI is intended to help analyze radar signals more quickly and effectively.
According to the report, Helsing is in discussions with investors from Silicon Valley, including Accel and Lightspeed Venture Partners, who are both considering investing in the company. Existing investor General Catalyst could also participate in the deal, making Helsing one of Europe's most valuable AI startups.
A Helsing spokesperson declined to comment, and neither Lightspeed nor Accel provided a comment to the FT.
Start-ups such as Helsing, with its focus on defense industry applications, are getting significant attention from investors, particularly those from Silicon Valley like Accel and Lightspeed Venture Partners. The AI technology developed by Helsing is transforming military equipment, as seen in its partnership with Saab to upgrade Eurofighter jets for electronic warfare capabilities by 2028.
