Daniel Ek-backed defense tech Helsing to raise $1.2B at $18B valuation

Helsing, a European startup specializing in military drones, is on the verge of securing a substantial funding round of $1.2 billion, which could elevate its valuation to approximately $18 billion. According to reports from the Financial Times, this financing effort is expected to be spearheaded by Dragoneer, with existing investor Lightspeed also playing a significant role. This latest funding round follows a previous investment made just under a year ago in June 2025, where Helsing raised nearly €600 million, facilitated by the company's notable backer, Spotify founder Daniel Ek. At that time, Helsing was valued at around €12 billion, or $14 billion USD, marking a significant increase in its market position with this forthcoming round. While Helsing is not the sole unicorn in the European defense technology sector, it has emerged as the most highly valued among its peers. For comparison, Quantum Systems, a German drone manufacturer, secured €180 million in November, which positioned it at a valuation exceeding €3 billion. Additionally, Tekever, based in Lisbon, raised £400 million last year, achieving a valuation above £1 billion. The ongoing conflict in Ukraine has intensified the interest in autonomous defense innovations, making this sector a focal point for venture capitalists. However, representatives from Helsing, Dragoneer, and Lightspeed were unavailable for immediate comment regarding the new funding round.