Companies
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Helsing
Artificial Intelligence
Helsing is a Munich-based defense AI company building software for drones, autonomous underwater vehicles, and combat aircraft, which has become Europe's most valuable defense technology startup.
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Helsing was founded in 2021 by Torsten Reil, Gundbert Scherf, and Niklas Kohler, positioning itself explicitly as a "sovereign" European alternative to American defense technology companies, at a moment when the war in Ukraine had dramatically accelerated European governments' interest in modern, software-defined defense technology, including AI-enabled drones and autonomous systems, after decades of relatively underfunded and slow-moving European defense procurement and technology development relative to both the United States and, increasingly, adversary nations. The company's core technology spans AI-enabled situational awareness and sensor fusion software, autonomous strike drones including its HX-2 loitering munition, autonomous underwater vehicles for naval surveillance, and, most ambitiously, the CA-1 Europa, a proposed unmanned combat aircraft designed to fly alongside crewed fighter jets, unveiled in September 2025 with a targeted first flight in 2027. Helsing has built partnerships with established European defense industrial companies, including Sweden's Saab, Germany's Rheinmetall, and Norway's Kongsberg, positioning itself as a software and AI layer that can be integrated into existing and future European defense platforms rather than only building standalone hardware, and in November 2025 signed a substantial multi-year contract with Saab Germany to integrate its Cirra AI software into the Eurofighter's Arexis electronic warfare suite. The company's growth has been extraordinarily rapid: it raised a €600 million Series D in June 2025 at a roughly €12 billion valuation led by Spotify founder Daniel Ek's investment vehicle Prima Materia, before closing an even larger $1.8 billion Series E in July 2026 at an $18 billion valuation led by Dragoneer Investment Group and Lightspeed Venture Partners, making it Germany's most valuable startup and Europe's most valuable defense technology company. Helsing has also secured a major German government contract for HX-2 loitering munitions worth up to €1.46 billion, though the system's real-world performance has drawn some scrutiny, including reports that an early version underperformed in field use in Ukraine. The company competes with U.S. rival Anduril and fellow German startup Stark Defence.
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