German Defense Technology Startups Helsing It is in talks with Silicon Valley investors including Accel and Lightspeed Venture Partners to raise nearly $500 million.ValuationAt $4.5 billion, the company would become one of Europe’s most valuable artificial intelligence startups, demonstrating the growing interest among traditional venture capitalists in defense technology companies.
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Founded in 2021, Helsing focuses on AI-based defense software. The company uses AI to process large amounts of data generated by sensors and weapon systems to provide real-time battlefield intelligence and help the military make decisions. The company's software is also being used to develop AI capabilities for Ukrainian drones. Helsing has signed partnership agreements with some of Europe's leading defense contractors, including Germany's Rheinmetall and Sweden's Saab, to integrate AI into existing platforms, such as fighter jets. The startup is also working with Airbus to develop AI technology that will be used in manned and unmanned systems.
Venture capitalists have long been wary of investing in defense technology companies, but that attitude is changing quickly as tensions between the United States and Europe push countries to increase defense spending.
This year, NATO began investing its new €1 billion “Innovation Fund” in European tech companies. Europe is also “catching up very quickly” with the United States in investment in defense and dual-use technologies, as demonstrated in the war in Ukraine.