Helsing Raises $1.8 Billion at $18 Billion Valuation, Backed by JPMorgan and Lightspeed

According to CNBC, German defense startup Helsing raised $1.8 billion in a funding round on Monday, valuing the company at $18 billion. New and existing investors including JPMorgan Chase, Lightspeed Venture Partners, and Iconiq participated in the round.

Helsing, which develops AI-powered drones and underwater surveillance weapons for defense, said investor demand significantly exceeded available allocation. The Munich-based firm supplies its HX-2 drones to the Ukrainian army and positions itself as a European champion in defense technology.