Helsing, a European defense AI company, just secured a massive $487 million Series C funding round led by General Catalyst. The announcement comes as NATO leaders gather in Washington D.C., grappling with ongoing Russian aggression in Ukraine.
Founded in 2021, Helsing develops AI software to enhance weapons systems and improve battlefield decision-making. The fresh capital will fuel R&D efforts and expand the company's presence along NATO's eastern flank – a region increasingly wary of Russian threats.
"European security is at a crossroads," Helsing's founders stated bluntly. "This funding allows us to up the tempo and invest in large-scale R&D across all domains."
The startup isn't wasting time. It's launching a new entity in Estonia and committing $76 million to Baltic defense projects over the next three years. Estonian Prime Minister Kaja Kallas welcomed the move, emphasizing the need for "actions, not just words" in bolstering regional security.
Helsing has already notched several key wins, including contracts for the German Eurofighter's electronic warfare upgrade and AI infrastructure for the Future Combat Air System. The company has also been active in Ukraine since 2022, establishing the Defence Manufacturers Alliance with the Ukrainian government.
One of Helsing's ambitious initiatives, Project Centaur, aims to revolutionize air combat. Announced in June, the project develops autonomous capabilities for existing and future air systems like Loyal Wingman and FCAS. Using reinforcement learning and foundation models, Centaur has already impressed human pilots in early tests. "By employing modern AI approaches, we are creating the foundation for significant capability leaps – but, crucially, applied to the specifics of the military domain," explained Gundbert Scherf, Helsing's Co-founder and Co-CEO.
General Catalyst's Jeannette zu Fürstenberg backed Helsing's potential: "As we witness battlefronts on European soil for the first time in decades, companies like Helsing have never been more critical."
The funding round, which reportedly values Helsing at $5.4 billion, drew support from Elad Gil, Accel, Saab, Lightspeed, Plural, and Greenoaks. It reflects a broader surge in defense tech investment, with Silicon Valley pouring $35 billion into the sector in 2023 alone.
Helsing plans to grow beyond its current 300-person team, but details on its AI infrastructure remain closely guarded. When pressed, co-CEOs mentioned using edge devices and third-party resources for compute-heavy tasks like air combat AI training.