Helsing raises 600 million euros – the Spotify founder is one of the largest investors

The defense startup Helsing is receiving €600 million in fresh capital. Spotify founder Daniel Ek is leading the round and aims to help shape Europe's military tech future.

Spotify founder Daniel Ek is once again investing heavily in the German defense start-up Helsing – catapulting its valuation to 12 billion euros.

This makes the Munich-based company one of the most valuable start-ups in Europe.

Helsing is benefiting from the current boom in the defense sector: The tense geopolitical environment is driving up military spending worldwide. In particular, the Russian war of aggression against Ukraine has triggered a rethink in defense technology.

The investment company Prima Materia, which Ek founded together with early Spotify investor Shakil Khan in 2020, was the first major investor in Helsing in 2021 – just months before the Russian invasion.

Now Prima Materia is doubling its investment, Ek told the Financial Times . The company is leading the new financing round, along with existing investors such as the Swedish defense company Saab and venture capitalists Lightspeed Ventures, Accel, Plural, and General Catalyst.