TLDR:
- Helsing, a defense tech startup, raises $489 million in funding led by General Catalyst, valuing the company at $5.4 billion.
- The company develops artificial intelligence software for defense, enhancing weapons capabilities and battlefield decision making.
A Germany-based defense tech startup, Helsing, has secured approximately $489 million in funding led by General Catalyst, giving the company a valuation of $5.4 billion. The startup specializes in developing artificial intelligence software for defense purposes, specifically focusing on improving weapons capabilities in drones and jet fighters, as well as enhancing decision-making on the battlefield. Helsing has been actively involved in regions like Ukraine and the Baltic states, where concerns over potential aggression from Russia persist.
The funding announcement coincides with the NATO summit in Washington D.C., showcasing growing investor interest in defense tech. Helsing previously raised a significant round of approximately $227 million in September 2023, also led by General Catalyst. Since its founding in 2021, the company has amassed a total of around $827 million in funding.
Despite a recent slowdown in global venture investments in defense tech, Helsing’s latest fundraising round stands out as the second largest in the sector, following Anduril’s $1.5 billion Series E funding in late 2022. While overall funding for defense tech startups has been lower this year compared to the previous year, Helsing’s substantial round demonstrates the potential for significant funding to propel growth in the sector. The latest funding round showcases the enduring appeal of defense tech innovation and the readiness of investors to support technological advancements in the industry.
