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Spotify's $694M Bet On AI War Tech: What Daniel Ek's Helsing Move Signals For Investors Watching The Defense Boom

Tue Jun 24, 2025
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Paula Tudoran

4 min read

In This Article:

European artificial intelligence defense startup Helsing announced a €600 million ($694 million) funding round on Tuesday, led by Prima Materia, the investment firm founded by Spotify (NYSE:SPOT) CEO Daniel Ek and Shakil Khan, an earlier investor in Spotify.

The company said the new funding will help advance Europe's "technological sovereignty" by scaling domestic production of AI-driven defense systems. Helsing uses artificial intelligence to support military decision-making by connecting real-time sensor and weapons system data with advanced software architectures, according to its website.

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Founded in 2021, the company operates in Germany, France, and the U.K. Its product portfolio includes platforms like the HX-2, which reflects the company's move to integrate AI with battlefield-ready hardware. According to Helsing, its technologies are already being deployed under several government contracts, though specific client names have not been disclosed.

The latest investment round includes contributions from existing stakeholders Lightspeed Venture, Accel, General Catalyst, Plural, and Swedish defense firm SAAB. New participants include BDT & MSD Partners, according to Helsing.

Ek, who also serves as Helsing's chairman, said the investment reflects an urgent need to bolster Europe's security architecture amid rising global tensions. "As Europe rapidly strengthens its defense capabilities in response to evolving geopolitical challenges, there is an urgent need for investments in advanced technologies that ensure its strategic autonomy and security readiness," Ek said in the statement.

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Helsing's prior valuation stood at approximately €5 billion following a €450 million round led by General Catalyst in 2023. The company declined to confirm its current valuation due to pending regulatory approvals, CNBC says.

The funding surge reflects a broader shift in the European investment landscape. According to the NATO Innovation Fund, venture capital backing for defense, security, and resilience startups in Europe reached a record $5.2 billion in 2024. That figure represents a 30% increase over the past two years, despite a 45% contraction in general VC markets over the same period.