When Spotify CEO Daniel Ek isn’t transforming the music industry or building his AI-powered health startup, he’s making bold moves in European defense technology. Ek’s investment Firm, Prima Materia, has just led a massive €600 million funding round in Helsing — a Munich-based defense tech startup — catapulting its valuation to €12 billion, as first reported by the Financial Times and later confirmed by TechCrunch.
Founded just four years ago, Helsing is now one of Europe’s most valuable privately held companies. The investment underscores Europe’s increasing urgency to strengthen its own military capabilities as global instability rises and U.S. foreign policy grows more isolationist.
AI-Driven Warfare: Helsing’s Battlefield Advantage
At its core, Helsing leverages artificial intelligence to turn raw battlefield data from sensors, radars, and weapons systems into intuitive, real-time visualizations. This technology allows soldiers and commanders — whether on the frontlines or miles away — to share a unified situational awareness, replacing outdated methods like phone calls or paper maps.
But Helsing’s ambitions go beyond AI software. The company is now developing its own strike drones, aircraft, and a fleet of unmanned mini-submarines aimed at enhancing Europe’s naval surveillance capabilities.
As Wired described last year, Helsing is essentially bringing the interface of modern video games to the battlefield — with very real-world consequences.
European Defense Spending Surges
This fresh round of investment comes amid a broader boom in European defense tech, spurred largely by Russia’s 2022 invasion of Ukraine and concerns over U.S. security commitments under President Donald Trump.
“We’re going to spend a lot of money on defense as Europe,” Greek Prime Minister Kyriakos Mitsotakis told TechCrunch. “The defense landscape is changing — it’s going to be much more digitally and AI driven.”
Europe’s investment momentum is evident across the sector. U.S.-based Anduril just closed a $2.5 billion round led by Founders Fund. European drone makers Quantum Systems and Tekever recently raised €160 million and €70 million, respectively.
Europe Eyes Strategic Autonomy
Ek’s backing of Helsing reflects a growing European consensus: the continent can no longer rely solely on American military support. His early stake in the company, first made in 2021, highlights his foresight into the region’s evolving defense needs.
“As Europe rapidly strengthens its defense capabilities in response to evolving geopolitical challenges, there is an urgent need for investments in advanced technologies that ensure its strategic autonomy,” Ek said in a press release.
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Helsing’s latest funding round also attracted notable investors including Lightspeed Ventures, Accel, Plural, General Catalyst, Saab, and new partner BDT & MSD Partners. To date, Helsing has raised a total of €1.37 billion — a testament to Europe’s determination to cultivate its own cutting-edge defense ecosystem.
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