Prima Materia, the investment firm co-founded by Spotify’s Daniel Ek, is spearheading a €600 million investment in Helsing, a Munich-based company specializing in artificial intelligence and drone technology for military applications, according to the Financial Times.This latest funding round values the company at €12 billion.

Helsing, established in 2021, was founded by Torsten Reil, formerly a gaming executive, A.I. researcher Niklas Köhler, and Gundbert Scherf, previously a special advisor to Germany’s military of defense. Ek’s initial investment of €100 million occurred shortly after the company’s inception. Helsing’s prominence surged following Russia’s invasion of Ukraine; in a 2023 Wired profile, Reil stated that the company was “quite involved” in Ukraine’s military operations.

Ethical Considerations and Expansion

“The world is being tested in more ways than ever before. There’s an enormous realisation that it’s really now AI, mass and autonomy that is driving the new battlefield.”

Wired reported that the company’s former corporate slogan was “AI to serve democracies,” and they asserted they would never sell to autocratic nations. Though, Helsing did not respond to inquiries about whether they would sell their products to countries “where governments have stripped judges of their independence and cracked down on LGBTQ rights.”

Ek, who serves as a chairman on Helsing’s board, told the Times that Prima Materia would be “doubling down” on its investment in 2025 as Helsing expands from software to machines, including drones, aircrafts, and submarines. “The world is being tested in more ways than ever before,” Ek said. “There’s an enormous realisation that it’s really now AI, mass and autonomy that is driving the new battlefield… We can’t understate the implications of that for this conflict [in Ukraine] or really any conflict going forward.”

Controversy and Justification

Ek previously faced criticism after his initial investment in Helsing was made public, with some calling for a boycott of Spotify. This time, Ek appeared unfazed by potential backlash.

“I’m sure people will criticize it and that’s OK. Personally, I’m not concerned about it. I focus more on doing what I think is right and I am 100 per cent convinced that this is the right thing for Europe.”