German defense startup Helsing nears $18 billion valuation in $1.2 billion round, FT says

German defense startup Helsing is set to raise new funding at a valuation of about $18 billion, the Financial Times reported on Saturday. The $1.2 ⁠billion ⁠fundraising is being led by US firm Dragoneer Investment Group, with existing backer Lightspeed Venture Partners acting as co-lead, the FT said, citing people familiar with the matter.

The latest ‌Helsing fundraising was ​oversubscribed ​multiple times, the FT said. The fundraising plans are at an ​advanced stage but the timing has ​not yet been finalised, the newspaper said.

Helsing, Dragoneer and Lightspeed did not immediately respond to a request for ‌comment outside regular business hours. Reuters could not immediately verify the report.


Founded in 2021 and backed by Daniel Ek, defense technology firm Helsing started by making AI software for defence firms but moved to designing drones after Russia's invasion of Ukraine.