This move follows a series of deals Helsing signed with European arms manufacturers like Rheinmetall, Airbus, and Saab. Despite the competitive landscape with Chinese-made drones dominating the market and American incumbents like Anduril, Shield AI, and Skydio, Helsing's cofounders and investors believe that hardware is easier to crack than software. The company has already started operations in Ukraine and plans to donate 4,000 drones equipped with Helsing’s AI software to Ukraine starting in December.
Key takeaways:
- Helsing, a $4.5 billion defense startup, has reversed its software-only focus and unveiled plans for a fleet of attack drones, specifically the HX-2, capable of hunting in swarms and destroying armored vehicles.
- The company's pivot follows a series of deals with European arms manufacturers like Rheinmetall, Airbus, and Saab, and the inability to find an existing product that matched the specifications it needed for its AI-driven software.
- Helsing's valuation soared to $4.5 billion after raising $480 million from American venture funds General Catalyst and Accel, and it has raised a total of $805 million since its launch in 2021.
- Despite the competitive landscape and challenges in deploying drones, Helsing plans to test its drones in action as soon as this month, with Germany's Minister of Defense announcing that 4,000 drones equipped with Helsing's AI software would be donated to Ukraine.