Helsing, founded in 2021, has secured contracts with European militaries and is focused on building a software suite to enhance military AI capabilities. The company has been involved in projects providing AI-powered tools to the German military and AI capabilities for drones and UAVs for the Ukrainian government. Its biggest backer, General Catalyst, is a major defense tech investor, with investments in other defense tech companies like Anduril and Applied Intuition.
Key takeaways:
- Helsing, a Munich-based AI company that works with European militaries, is in talks to raise funding that would value it at around $4 billion, making it one of the world's most valuable defense tech startups.
- The company is expected to raise at least $400 million in a Series C funding round led by General Catalyst, which would bring its total funding to over $750 million.
- Helsing was founded in 2021 and has secured contracts to provide AI-powered tools to the German military and AI capabilities for the Future Combat Air System, a multinational agreement between France, Germany, and Spain.
- General Catalyst, Helsing's biggest backer, has emerged as a major defense tech investor, also backing defense unicorns Anduril and Applied Intuition, and the secretive AI company Vannevar Labs.