TL;DR:
- Munich-based Helsing secures a substantial €209 million in Series B funding.
- The funding round is led by General Catalyst, with strategic investment from Swedish group Saab.
- Helsing previously raised €102.5 million in a Series A round led by Prima Materia.
- Founded in 2021, Helsing specializes in AI-based defense technology and has been active in Ukraine since 2022.
- The company’s software-driven approach and industry partnerships have fueled rapid market adoption across Europe.
- Helsing was selected for providing AI-enabled electronic warfare capabilities for the Eurofighter and the AI backbone for the FCAS program.
- Co-founders Torsten Reil and Gundbert Scherf emphasize their commitment to protecting democracies and ethical AI.
- The funding will fuel Helsing’s expansion in France, Germany, and the UK and further invest in core technology.
Main AI News:
Munich, Germany – Helsing, the Munich-based powerhouse in defense AI technology, has announced a triumphant achievement in its latest funding round, securing an impressive €209 million in Series B funding. This milestone cements Helsing’s position as Europe’s most well-funded defencetech startup and elevates its status among the leading AI companies in the burgeoning field of defense technology.
The Series B funding round was spearheaded by General Catalyst, a renowned player in the investment realm. Adding a strategic edge to this funding is the participation of Swedish conglomerate Saab, which strengthens the already established partnership between the two entities.
Helsing’s journey to this substantial funding round began with a successful Series A funding, where it raised €102.5 million. This initial backing was led by Prima Materia, an investment company with a prominent figure at its helm, Daniel Ek, co-founder, and CEO of Spotify.
Established in 2021, Helsing has been on a relentless mission to develop AI-based capabilities geared towards safeguarding the principles of democracy. Notably, the company has been actively involved in Ukraine since 2022, contributing its advanced technology and capabilities to frontline operations with an ongoing deployment of personnel.
Helsing’s distinctive software-only approach and deep-rooted collaborations within the industry have propelled it to rapid market adoption across Europe. In a significant development, the German government recognized Helsing’s prowess, selecting the company, along with its partner Saab, to provide AI-enabled electronic warfare capabilities for the forthcoming update of the Eurofighter in June 2023. Following this, in August 2023, Helsing, along with its consortium partners, clinched a pivotal contract to provide the AI backbone for the Future Combat Air System (FCAS) program.
Torsten Reil, one of Helsing’s co-founders, expressed his thoughts on this groundbreaking funding round, stating, “This funding round is a vote of confidence in Europe. General Catalyst’s commitment to global and European resilience perfectly fits our mission to help protect our democracies. We founded Helsing because we believe that AI will be essential so that democracies can continue to defend their values.“
Gundbert Scherf, another co-founder of Helsing, echoed this sentiment, emphasizing, “Our recent traction shows that this belief is shared by governments and industry. This funding round is further validation from a global top investor as well as leading prime and trusted partner Saab.”
Helsing places a profound emphasis on the ethical considerations surrounding new technologies, particularly artificial intelligence. The company adopts a conscientious approach to transparency, explainability, and ensuring the effectiveness of human involvement in decision-making processes.
Paul Kwan, Managing Partner at General Catalyst, conveyed his perspective on this strategic investment, stating, “We believe Helsing is a category-defining software company that is fully aligned with our global resilience thesis – the need to modernize our most critical industries for today’s new world order.”
This newfound capital injection will propel Helsing’s expansion plans, with a particular focus on strengthening its presence in France, Germany, and the United Kingdom, while furthering investments in its core technology initiatives.
Conclusion:
Helsing’s successful Series B funding not only solidifies its position as a European leader in AI Defencetech but also highlights the growing importance of AI in modernizing critical industries for a changing global landscape. The strategic investments and partnerships indicate strong confidence in Helsing’s mission to protect democracies using cutting-edge technology, paving the way for further innovations and growth in the AI defense sector.
