Helsing raises €209 million in Series‑B
Berlin — AI defense company Helsing announced that it has raised €209 million in a Series B funding round led by General Catalyst. The Swedish Saab Group is also participating in the round as a strategic investor, thus deepening the existing partnership.
Founded in 2021, the Munich-based company is a new breed of defense contractor developing AI-based capabilities to protect democracies. Helsing’s pure software-based approach and close partnership with the industry have led to rapid market adoption across Europe. In June 2023, the German government selected Helsing and its partner Saab to deliver the new AI-enabled electronic warfare capabilities for the upcoming Eurofighter update. In August 2023, Helsing and its consortium partners were tasked with providing artificial intelligence (AI) development infrastructure for the Future Combat Air System (FCAS).
“This round of financing is a vote of confidence in Europe,” said Torsten Reil, co-founder of Helsing. “General Catalyst’s commitment to global and European resilience aligns with our mission to protect European democracies.”
“We founded Helsing because we believe AI will be essential to continue defending democratic values. Our recent contracts show that this belief is shared by governments and industry. This round of funding is further validation from a leading global investor, as well as from our partner Saab,” added Dr. Gundbert Scherf, co-founder of Helsing (photo © helsing.ai).
Helsing places particular focus on the ethical application of new technologies, especially artificial intelligence. The company takes a targeted approach to transparency, explainability, and the effectiveness of “human in the loop.” To ensure technical excellence and diverse thinking, Helsing recruits employees from a variety of backgrounds and encourages critical thinking and feedback from its teams.
“We believe Helsing is an industry-shaping software company that is fully aligned with our global resilience thesis — the need to modernize our major industries for the powerful changes in the world,” said Paul Kwan, Managing Partner, General Catalyst.
Helsing’s mission to protect democracies places particular focus on the ethical application of new technologies, especially artificial intelligence. The company takes a targeted approach to transparency, explainability, and the effectiveness of “human in the loop.”
Consultant Helsing: YPOG
Team: Dr. Benjamin Ullrich (Lead, Transactions), Partner, Berlin Dr. Benedikt Flöter (IP/IT), Associated Partner, Berlin Tobias Lovett (Lead, Transactions), Senior Associate, Berlin Dr. Christoph Cordes (IP/IT), Associate, Berlin; Farina Weber (Corporate), Associate, Berlin
Helsing is a key technology and software company of the latest generation. In focus: critical AI capabilities for security and defense. Helsing was founded as an owner-managed technology company to pursue the exclusive business purpose of developing and deploying AI capabilities in the security sector. It is Helsing’s claim, as a European technology pioneer, to enable democratic societies to make sovereign decisions and enforce their own ethical standards.
YPOG is a specialist tax and commercial law firm operating in the core areas of Funds, Tax, Banking & Finance and Transactions. The YPOG team advises a wide variety of clients. These include emerging technology companies and family-run medium-sized enterprises as well as corporations and private equity/venture capital funds. YPOG is one of the leading addresses for venture capital, private equity and fund structuring in Germany. www.ypog.law