The Munich-based defense startup is reportedly raising $1.2 billion. That’s enough to make it more valuable than Trade Republic or Celonis.
It would be the largest round of financing ever for a German startup: According to insiders, the Munich-based defense company Helsing will raise $1.2 million. That would put the valuation at $18 billion. The AI drone builder would be the most valuable German startup.
The windfall for the drone startup is not yet final; no one wanted to officially confirm it. But both the Financial Times and Handelsblatt were able to speak to informed circles about the round.
According to reports, the investors include Dragoneer and Lightspeend Venture Partners from the USA. For example, Helsing had previously raised money from Plural and Prima Materia. There is a well-known name associated with Prima Materia: Spotify founder Daniel Ek.
The drone flies up to 220 km/h
Helsing is based in Munich and was founded in 2021. The company makes remote-controlled fighter aircraft with built-in AI. The HX-2 model is already in use. “HX-2 is capable of engaging artillery, armored and other military targets at ranges of up to 100 km,” explains Helsing on the website.
The drone weighs 12 kilograms and can fly at speeds of up to 220 km/h. It doesn’t attack autonomously, writes Helsing, there is always a person at the (remote) control.
A competitor of Helsing is Stark Defense from Berlin. In February there was more money, including from Peter Thiel. Stark achieves a billion-dollar valuation, but it doesn’t come close to Helsing.
According to Handelsblatt, the previous leaders among German startup ratings were the software company Celonis and the investment app Trade Republic. Helsing is now likely to leave them behind by a few billion dollars.