German AI defense company Helsing is reportedly in talks to secure €370 million in Series C funding, potentially valuing the company at a staggering $4 billion. The round is said to be led by US VC giant General Catalyst, according to Forbes.

In September last year, the company led Helsing in securing €209 million in Series B funding, solidifying its status as Europe’s most well-funded defencetech startup and among the leading AI companies in the field. 

The Series C would bring its funds to almost €700 million.

Founded in 2021, Helsing develops AI-based capabilities to “protect our democracies.” 

The company has been active in Ukraine since 2022, providing capabilities and technology for frontline operations, with personnel deployed on an ongoing basis.

A software-only approach and deep partnerships with industry have led to rapid market adoption.

In June, the German Ministry of Defence selected the company in partnership with Saab Germany to upgrade 15 of the Luftwaffe’s Eurofighters with AI-enabled cognitive electronic warfare (EW) capabilities for future SEAD missions. 

 In August 2023, Helsing and its consortium partners won the contract to provide the AI backbone for the Future Combat Air System (FCAS) programme,  a European combat system of systems under development by Dassault Aviation, Airbus and Indra Sistemas. UDS’s expertise in AI was recognized in February when they signed a non-binding agreement to provide AI capabilities for Ukrainian drones.

Lead image: Helsing. Photo: uncredited.