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Helsing co-CEO and co-founder Torsten Reil , who previously sold a company to Zynga for $500 million, is aiming to provide an AI-backbone to military applications.The Munich-based company is raising at least $400 million in a funding round led by General Catalyst , sources tell Forbes.
Helsing, the secretive AI company that has secured contracts with European militaries, is in talks to raise funding that would value it in the range of $4 billion, sources toldThe deal, a Series C funding round being led by General Catalyst, is expected to provide the Munich-based company with at least $400 million, according to four sources familiar with the matter.
Helsing, which was founded in 2021 by a team of engineers, tech executives and consultants, raised around $2 million from European investors to seed the company, but gained major traction in November of that year when Spotify founder Daniel Ek’s investment firm backed the company’s Series A funding round of more than $100 million.
Last year the company secured a contract alongside Saab to provide the German military with AI-powered tools to assist the Eurofighter jet fighter pilots. Months later, Helsing was selected as a vendor to provide AI capabilities for the Future Combat Air System, a multinational agreement between France, Germany and Spain to develop new air defenses.
AI European General Catalyst Catalyst Torsten Reil Gundbert Scherf Niklas Köhler Defense Tech
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