Helsing Raises €209 Million in Series B Funding for AI Defense Development
European AI defense developer Helsing has announced that it has raised €209 million (approximately $223 million) in Series B funding. The funding round was led by venture capital firm General Catalyst, with strategic investment from Swedish airplane and car manufacturer Saab. Helsing, which was launched in 2021, focuses on developing AI-enabled military applications and components. It is currently working on the upcoming update to the NATO Eurofighter warplane and the Future Combat Air System (FCAS) program. Additionally, Helsing has been providing frontline technology in Ukraine since the Russian invasion began in 2022.
Helsing’s mission is to develop AI technology that protects democracies. The company believes that AI will be essential for defending democratic values. Helsing co-founder Gundbert Scherf stated that governments and industry share this belief, which is evident from their recent traction. Swedish billionaire and Spotify founder Daniel Ek is also a supporter of Helsing AI through his investment company, Prima Materia.
The Rise of AI in Military Applications
The proliferation of artificial intelligence technology in military applications has been compared to an arms race since the launch of OpenAI’s ChatGPT. Companies are increasingly seeking to provide governments and militaries with faster and more cost-effective AI-powered war machines. Kratos Defense and Shield AI are among the companies bringing AI to the battlefield.
In July, the Pentagon announced that it is testing generative AI in its decision-making process. Generative AI can create new content using prompts and large amounts of existing data. The Department of Defense also unveiled the Replicator Initiative, aiming to deploy autonomous systems at scale within the next 18 to 24 months as a response to China’s growing military capabilities.
Hot Take: Helsing’s Funding Boost Strengthens Europe’s Defense AI Capabilities
Helsing’s successful Series B funding round of €209 million not only provides a significant financial boost to the company but also strengthens Europe’s defense AI capabilities. With General Catalyst leading the investment and Saab joining as a strategic investor, Helsing is well-positioned to continue its development of AI-enabled military applications.
The rise of AI in military applications reflects the growing importance of advanced technology in modern warfare. Companies like Helsing are at the forefront of developing innovative solutions to protect democracies and enhance defense systems. As governments and industry increasingly recognize the value of AI in military operations, investments in companies like Helsing demonstrate a commitment to bolstering national security.
By
By
By
By
By