German defense startup Helsing, whose autonomous systems and kamikaze drones are actively used by the Ukrainian military, is preparing to close a $1.2 billion funding round. After the deal is completed, the company’s valuation will reach $18 billion, making it one of the most expensive technology projects in Europe in 2026.
German defense startup Helsing, whose autonomous systems and kamikaze drones are actively used by the Ukrainian military, is preparing to close a $1.2 billion funding round. After the deal is completed, the company’s valuation will reach $18 billion, making it one of the most expensive technology projects in Europe in 2026.
According to the Financial Times, the round is led by American Dragoneer Investment Group, with existing investor Lightspeed Venture Partners as co-lead. The deal is in the final stages, although the exact timing of the signing of documents is still being specified.
Helsing’s growth from $14 billion to $18 billion in less than a year demonstrates the abnormal interest of investors in defense startups. The previous round of 600 million euros was led by Prima Materia, an investment company founded by Spotify co-founder Daniel Ek. Demand for innovation in the defense sector has grown rapidly since the start of Russia’s full-scale invasion of Ukraine in 2022, which forced European countries to reconsider their strategies and focus on AI systems and drones.
An important part of the company’s success is direct interaction with the Ukrainian military. After some difficulties with the first model of the HF-1 kamikaze drone, the new version of the HX-2 received high marks from the Ukrainian Defense Forces. According to the company, this device demonstrates high efficiency in striking Russian targets. Oleksandr Kamyshin, advisor to the President of Ukraine on strategic issues, has repeatedly noted the role of Helsing in strengthening Ukraine’s technological advantage.
