Helsing, a Munich, Germany-based technology startup specializing in the defense sector, raised €209 million ($223 million) in Series B funding.
SaaS Investors
The round was led by General Catalyst, with participation from Swedish aerospace and defense company Saab.
Founded in 2000, General Catalyst is a venture capital firm based in Cambridge, Massachusetts. The firm prefers to invest in seed-stage, early-stage, later-stage, and growth-stage companies operating in consumer, enterprise, fintech, crypto, health assurance, software, transportation, big data, and technology sectors.
Helsing Use of Funds
The company plans to use the funding to expand its operations in Germany, France, and the UK, and invest in core technologies.
About Helsing
Helsing is a defense AI company that specializes in the creation of AI-powered military solutions and components. Helsing partners with governments and hardware manufacturers to deploy mission-enhancing software and funds its own research and technology development, which allows it to undertake its R&D at scale, applying the speed of software development cycles to mission challenges in defense. Helsing’s mission to protect democracies places a special responsibility on the ethical consideration of new technologies, in particular artificial intelligence. With operations in the UK, Germany, and France.
The company recently secured a contract for AI support for the Future Combat Air System (FCAS) program. It was selected by the German government to supply AI-enabled electronic warfare technologies for future Eurofighter jet upgrades. Helsing has also been operating in Ukraine since 2022, providing capabilities and technology for frontline operations.
Funding Details
Company: Helsing GmbH
Raised: €209.0M
Round: Series B
Funding Month: September 2023
Lead Investors: General Catalyst
Additional Investors: Saab
Company Website: https://helsing.ai/
Software Category: AI Defense
Source: https://helsing.ai/newsroom/helsing-raises-euro209m-series-b-to-bolster-defence-ai-capabilities-for-democracies