Five-year-old European military drone startup Helsing It is reportedly close to raising a new round of $1.2 billion at a valuation of about $18 billion. The round is expected to be led by Dragoneer and co-led by current Helsing investor Lightspeed, the reported the Financial Times.
Helsing last climbed just under a year ago, in June 2025in a deal led by billionaire Spotify founder Daniel Ek. It was an investment of 600 million euros with an estimated valuation of 12 billion euros ($14 billion). Thus, this new round represents a step forward.
While Helsing is not the only European unicorn defense technology, it is by far the one that investors consider the most valuable. For example, German drone manufacturer Quantum Systems raised 180 million euros in Novemberwhich valued it at more than 3,000 million euros. And a year ago, Lisbon-based Tekever raised £400 million at a valuation in excess of £1 billion. Amid Russia’s ongoing war in Ukraine, the testing ground for new technologies, autonomous defense startups have become a hot area for venture capitalists.
Helsing, Dragoneer and Lightspeed could not immediately be reached for comment.
