Helsing Targets $1.2B Raise at $18B Valuation as Defense Demand Surges

New updates have been reported about Helsing.

European defense technology company Helsing is reportedly finalizing a new funding round of about $1.2 billion that would value the firm near $18 billion, marking one of the largest recent capital raises for a private European defense startup. The round is expected to be led by Dragoneer, with existing backer Lightspeed co-leading, signaling strong investor conviction in Helsing’s growth prospects and its position in the rapidly expanding defense technology market.

This financing would represent a significant step-up from Helsing’s June 2025 round, when the company raised €600 million at an estimated €12 billion valuation in a deal led by Spotify founder Daniel Ek. The implied valuation progression underscores how investor demand for autonomous defense platforms has accelerated amid the ongoing war in Ukraine, where new battlefield technologies are being tested at scale, and places Helsing ahead of regional peers such as Quantum Systems and Tekever in perceived strategic and financial value.