Helsing, a defense technology startup based in Munich, has garnered €600 million in funding as geopolitical instability drives investment in artificial intelligence for military applications.

The ample investment was spearheaded by Prima Materia, the venture capital firm of Spotify CEO daniel Ek. this latest round brings Helsing’s total funding to over €1.3 billion, building upon a previous €450 million funding round from July of the prior year.

Helsing has not revealed its current valuation. However, according to the Financial Times, the company is now valued at €12 billion, placing it among Europe’s top five most valuable private technology firms.

Prima Materia was an early investor in Helsing, a decision that triggered boycotts among artists on Spotify who were concerned that their platform usage was indirectly funding warfare. despite the backlash, Ek stated that Helsing’s technology ensures “strategic autonomy” for Europe.

“By doubling down on our investment,Prima Materia reaffirms its commitment to empowering Europe’s technological sovereignty – an ambition Helsing perfectly embodies,” said Ek.

Established in 2021, Helsing has developed an autonomous strike drone currently utilized by several European militaries, including Ukraine. The company also recently announced plans for a fleet of autonomous reconnaissance submarines and successfully tested its self-driving system piloting a Saab fighter jet last week.

Helsing is benefiting from a surge in defense investment as the conflict in Ukraine and increasing security concerns prompt European governments to increase military spending and explore AI technologies for defense.

According to a recent report from McKinsey, investment in European defense tech startups increased by over 500% between 2021 and 2024, compared to the preceding three years.

While Helsing is currently the most valuable defense tech startup in Europe, numerous other companies are seeing increased demand for their technologies.

In May, Quantum Systems, a German dual-use drone manufacturer, raised €160 million at a valuation exceeding €1 billion, shortly after Tekever, a Portuguese drone startup, also achieved unicorn status.

ARX Robotics, another Munich-based firm, recently secured €31 million to expand its fleet of autonomous land drones, shortly after announcing plans to invest £45 million in a new UK factory.

“We’re already seeing a shake-up in the defence sector, with AI-focused players like Palantir outperforming more traditional defence giants.”