Germany: Defense AI Firm Helsing Scores €209m in Series B Funding

Defense AI firm Helsing has announced raising €209 million in its Series B funding round anchored by General Catalyst and backed by strategic investment from the renowned Swedish group, Saab.

Established in 2021, Helsing’s identity is carved as a contemporary defense firm, primarily focusing on designing AI-centric solutions to fortify democracies. Helsing’s exclusive software-driven system, combined with its profound alliances with industrial stalwarts, has catalyzed its market penetration across Europe.

Notably, in June 2023, the German government entrusted Helsing, in coordination with Saab, to infuse AI-driven electronic warfare functionalities into the forthcoming Eurofighter update. Furthermore, by August 2023, Helsing, along with its consortium allies, clinched the esteemed contract to anchor the AI framework for the Future Combat Air System (FCAS) program.

Simultaneously, Helsing has exhibited a commendable operational presence in Ukraine since 2022, dedicating its resources and technology to front-end missions and maintaining continuous personnel deployment.

Reflecting on the funding’s significance, Helsing’s co-founder, Torsten Reil, said:

This fund infusion symbolizes unwavering faith in European prowess. General Catalyst’s allegiance to buttressing global and European resilience resonates seamlessly with Helsing’s dedication to safeguard our democratic principles.

Reiterating this sentiment, Gundbert Scherf, Helsing’s other co-founder, stated that the combined endorsement from an elite global investor and a venerated defence ally like Saab reaffirms the pivotal role of AI in strengthening democratic defences.

An inherent aspect of Helsing’s mission entails a profound ethical responsibility towards assimilating new-age technologies, especially AI. The company ardently advocates for transparency, comprehensibility, and upholding the relevance of human intervention. Their diverse recruitment strategy amplifies this vision, fostering a culture of constructive critique and innovative thought.

Lauding Helsing’s trajectory, Paul Kwan, General Catalyst’s Managing Partner, remarked on Helsing’s approach to blending radical collaboration, responsible innovation, and a stellar team ethos. “The defence realm’s pressing need to integrate AI responsibly finds an apt solution in Helsing. It’s a privilege to back what we perceive as Europe’s premier defence entity,” he said.

Echoing similar enthusiasm, Micael Johansson, Saab’s President and CEO, underlined Helsing’s instrumental role in elevating Saab’s product suite, which is already acclaimed globally.

This Series B follows Helsing’s previous €102.5 million Series A round, led by Prima Materia, an initiative by Spotify CEO, Daniel Ek. Intent on utilizing this capital infusion, Helsing aims to expand its operations in Germany, France, and the UK while also fortifying its core technological ventures.

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