This Helsing company profile covers the company's valuation, revenue, funding rounds, investors and history. Helsing works in defense technology, with a focus on AI software, drones and autonomous systems. It was founded in 2021 and is headquartered in Munich, Germany. Its latest valuation on record is US$18 billion (July 2026). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.
Revenue
| Metric | Value | As of | Source |
|---|---|---|---|
| Acquisition | Grob Aircraft, a German aircraft manufacturer, acquired in 2025 | 2025 | Munich Startup |
Funding history
| Date | Round | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| Jul 2026 | Series E | €1.6B (US$1.8B) | €16B (US$18B) | Dragoneer, Lightspeed, Disruptive, Iconiq, Goldman Sachs Alternatives, JPMorganChase, CPP Investments, General Catalyst, Plural, Stepstone | Munich Startup |
| Jun 2025 | Series D | €600M | About €12B | Prima Materia (Daniel Ek) (lead) | TechCrunch |
Helsing timeline
Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.
- 2021 — Helsing is founded in Munich by Torsten Reil, Gundbert Scherf and Niklas Köhler.
- Jun 2025 — Series D: €600M, valuing the company at About €12B. Investors: Prima Materia (Daniel Ek) (lead).
- Jul 2026 — Series E: €1.6B (US$1.8B), valuing the company at €16B (US$18B). Investors: Dragoneer, Lightspeed, Disruptive, Iconiq, Goldman Sachs Alternatives, JPMorganChase, CPP Investments, General Catalyst, Plural, Stepstone.
- 2025 — Acquisition: Grob Aircraft, a German aircraft manufacturer, acquired in 2025.
Investors
Overview
Helsing is a European defense technology company that builds AI software for militaries, along with drones, autonomous aircraft and underwater systems that run on that software. Its software analyses huge streams of sensor data, from radar, satellites, electronic signals and cameras, to help armed forces understand what is happening on the battlefield and act faster. It has supplied AI-powered strike drones to Ukraine and works with defense ministries in Germany, the UK and other European countries.
Helsing was founded in 2021 by Torsten Reil, a video game entrepreneur who co-founded the animation software company NaturalMotion, Gundbert Scherf, a former McKinsey partner and adviser to the German defense ministry, and Niklas Köhler, an AI researcher. It is headquartered in Munich, with offices in Berlin, London, Paris and other European cities. It has become the most valuable defense startup in Europe and stresses that it remains majority European-owned.
What Helsing builds
- AI software: systems that fuse sensor data, detect and classify targets, and support decisions for air, land and sea forces. Helsing has worked on upgrading existing platforms, such as fighter jets' electronic warfare capabilities, with AI.
- Strike drones: AI-guided drones designed to keep working even when radio links are jammed, a major problem in Ukraine. It has delivered thousands of drones to Ukraine.
- Underwater systems: autonomous underwater gliders for long-endurance surveillance of seas and undersea infrastructure.
- Uncrewed combat aircraft: an autonomous combat jet being developed using the capabilities of Grob Aircraft, which Helsing acquired in 2025.
Business model
Helsing earns money from contracts with governments: software development and licensing, integration of AI into existing military platforms, and sales of drones and other hardware. Like Anduril in the US, it invests its own money in products and then sells them, rather than waiting for governments to fund every step of development. Helsing doesn't publish revenue figures.
Funding history
Helsing's valuation has risen very quickly:
- Early rounds (2021 to 2023): venture funding including backing from Prima Materia, the investment firm of Spotify founder Daniel Ek, and later a large Series C led by General Catalyst.
- June 2025, Series D: €600 million led by Prima Materia, at an estimated €12 billion valuation, according to TechCrunch.
- July 2026, Series E: €1.6 billion (about US$1.8 billion) at a €16 billion (about US$18 billion) valuation. Investors included Dragoneer, Lightspeed, Disruptive, Iconiq, Goldman Sachs Alternatives, JPMorganChase, CPP Investments, General Catalyst, Plural and Stepstone. Pre-announcement reports said Dragoneer would lead with Lightspeed co-leading.
Earlier reports in May 2026 suggested a round of about US$1.2 billion; the final round was larger. That is common in heavily oversubscribed rounds.
Why European defense spending matters
Russia's full-scale invasion of Ukraine in 2022 prompted European governments to increase defense budgets sharply, and NATO members agreed in 2025 to raise spending targets significantly over the coming decade. Germany created a special fund for its armed forces and loosened rules on borrowing for defense. Governments have also said they want more of that spending to go to European suppliers. Helsing is positioned to benefit, because it is a European company focused on software, drones and autonomy, the areas where demand is growing fastest.
Controversy and ethics
AI in weapons raises difficult questions about human control, accountability and escalation. Helsing has said it keeps humans in control of lethal decisions and works only with democratic governments. Its connection to Daniel Ek prompted some musicians to remove their music from Spotify in protest. These debates matter because they influence recruitment, public support and government policy on autonomous weapons.
Competitive landscape
Helsing competes with large European defense companies such as Airbus, BAE Systems, Rheinmetall, Thales and Leonardo, which are also investing in AI and drones; with US companies, including Anduril, which is expanding in Europe; and with other European startups such as Quantum Systems and Tekever. It also partners with some of the established players, for example on upgrading existing aircraft.
What to watch next
Watch large production contracts in Germany, the UK and other NATO countries, progress on the uncrewed combat aircraft, deliveries to Ukraine, any revenue disclosure, and how quickly it scales manufacturing.
Key facts at a glance
Helsing is a Munich defense technology company founded in 2021 by Torsten Reil, Gundbert Scherf and Niklas Köhler. It builds AI software, drones, underwater systems and an uncrewed combat jet, and acquired Grob Aircraft in 2025. It raised €600 million at about €12 billion in June 2025, then €1.6 billion (US$1.8 billion) at €16 billion (US$18 billion) in July 2026.
Lessons from Ukraine
The war in Ukraine has become a testing ground for drone warfare. Both sides use large numbers of inexpensive drones for reconnaissance and attack, and both use electronic jamming to disrupt them. Systems that can navigate and identify targets without a constant radio link have proved valuable. Rapid iteration also matters: software and tactics change within weeks. These lessons favour companies that can update software quickly and produce hardware in volume, which is the model Helsing and similar firms are built around.
Questions to ask about any defense AI company
- Which governments are customers, and are contracts for production or for trials?
- How does it keep humans in control of critical decisions?
- Can it manufacture at the volumes governments now want?
- How dependent is it on a single country's budget?
Our guide to researching a private company explains how to find contract awards and other public information when revenue isn't disclosed.
What this means if you're…
A European supplier: defense startups scaling production need components, electronics and manufacturing partners.
A founder: Helsing shows how quickly capital can flow to a sector when government priorities shift.
An investor: without disclosed revenue, judge Helsing on contracts, deliveries and its position in European procurement.
Latest developments (October 2026)
Helsing raised US$1.8 billion in a Series E in July 2026 at a US$18 billion valuation, led by Dragoneer with Lightspeed, ICONIQ, Goldman Sachs' growth equity arm, JPMorgan and CPP Investments, according to the company, which said demand exceeded the allocation and that it remains predominantly European-owned. Helsing is the most valuable private company in Germany in our database. See our largest German startups guide.
Sources
Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.
Frequently asked questions
What does Helsing do?
Helsing is a defense technology / ai software, drones and autonomous systems company headquartered in Munich, Germany. It was founded in 2021.
What is Helsing's valuation?
Helsing was valued at US$18 billion as of July 2026, according to Helsing (company press release). Private company valuations are set at funding rounds or share sales and can change significantly between them.
How much revenue does Helsing make?
Helsing is a private company and has not publicly disclosed its revenue. Figures on third-party sites are usually modelled estimates rather than numbers reported by the company.
What was Helsing's latest funding round?
The most recent financing we have verified is a series e in Jul 2026: €1.6B (US$1.8B), at a valuation of €16B (US$18B). Source: Munich Startup.
Who are Helsing's investors?
Investors named in public announcements include Dragoneer, Lightspeed Venture Partners, Prima Materia, General Catalyst, Iconiq, CPP Investments, Goldman Sachs Alternatives, JPMorganChase, Plural, Disruptive and Stepstone.
Who founded Helsing?
Helsing was founded in 2021 by Torsten Reil, Gundbert Scherf and Niklas Köhler.
Is Helsing a public company?
No. Helsing is a private company (private, venture backed), so its shares are not traded on a stock exchange and it isn't required to publish its financial results.
Where is Helsing headquartered?
Helsing is headquartered in Munich, Germany.