Helsing Upgrades Its Worth with Investments; Daniel Ek Puts More Money into Kamikaze Drones
Tech mogul Daniel Ek, creator of Spotify, diversifies his portfolio with an investment in a firm specializing in kamikaze drone technology.
Insights Financial Times Helsing, a German defense tech company, has seen its value shoot up after a recent cash injection of 600 million euros, led by none other than Spotify's CEO, Daniel Ek's investment firm, Prima Materia. With this funding round, Helsing is now believed to be worth a whopping 12 billion euros, a significant leap from its last evaluation of around 5 billion euros in 2023 [1][2][4].
Digging Deeper
Eyes on Helsing
This German startup has caught the eye of not just Ek, but also Swedish defense titan Saab and multiple venture capitalists, who have poured in fresh capital. Helsing is famous for its kamikaze drone, the HX-2, currently used by Ukraine in battle and set to be tested by the German military. In addition, the company is working on an AI system to handle complex air combat scenarios and an underwater drone for ship and infrastructure protection [1][3][4].
Last week, a test involving a Saab fighter jet controlled by Helsing's AI "Centaur" challenged a human-piloted plane, resulting in a nail-biting encounter, but no clear victor [1][3][4]. Helsing is also developing a software platform, Lura, to enable continuous underwater monitoring, a boon for western states looking to protect their pipelines and data cables [1][3].
Off to the Races
With tensions heightening worldwide and the ongoing crisis in Ukraine highlighting the importance of AI in modern warfare, Ek stated that the pace of funding Helsing has picked up significantly [4]. The recent funding round values Helsing at a mirrored 12 billion euros, tripling its value in a year and catapulting it into the ranks of Europe's most valuable startups [4]. Since its inception, Helsing has raised a substantial 1.37 billion euros from investors [4].
Sources:1. ntv.de2. jga/rts/dpa3. techcrunch.com4. ft.com
Categories
- Start-ups
- Military
- Drones
- Artificial Intelligence
- Underwater Technology
- Space Warfare
- Europe
- In light of the ongoing global tensions and the increasing importance of artificial intelligence in modern warfare, additional funding for Helsing, a German defense tech startup, is being invested to further its development in vocational training, specifically in the areas of AI systems for complex air combat scenarios and software platforms like Lura for continuous underwater monitoring.
- Beyond the Kamikaze drone HX-2, Helsing's community policy now includes expanding its vocational training programs in the field of underwater technology, as well as introducing AI systems, aiming to boost its potential for innovation in the defense industry, attracting investors such as Daniel Ek and Saab.
