Helsing, the European defense technology startup backed by Spotify founder Daniel Ek, is closing a funding round that values the company at $18 billion. The round size approaches $1.2 billion, according to sources familiar with the matter.
The five-year-old startup builds autonomous military systems and drone technology for defense applications across NATO allies. Helsing competes directly with U.S. players like Anduril Industries and Shield AI in the crowded autonomous defense space, where venture capital has poured billions in recent years.
Ek's backing of Helsing represents a significant bet on European defense autonomy. The Spotify founder has positioned himself as a patron of European tech infrastructure, particularly in areas where the continent lags behind American dominance. A valuation approaching $18 billion makes Helsing one of Europe's most valuable private defense companies, sitting alongside players like Sekoia and G2 Ops.
This funding round underscores how defense technology has become a magnet for top-tier venture capital. Anduril raised $1.23 billion at a $12 billion valuation just months prior, while other autonomous defense startups have commanded similar multiples. The aggressive fundraising reflects NATO's growing pivot toward autonomous systems and AI-driven military capabilities, accelerated by Russia's invasion of Ukraine.
Helsing's momentum also reflects broader investor confidence in European defense tech. Geopolitical tensions and supply chain concerns have made sovereign defense capabilities a priority for European governments. The startup operates in a regulatory environment increasingly supportive of private defense innovation, though more restrictive than the U.S. market.
The round positions Helsing for accelerated international expansion and deeper government contracts across NATO nations. With $1.2 billion in fresh capital, the company can scale engineering talent, expand its product portfolio, and compete more aggressively against well-funded