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Spotify's Daniel Ek leads a $690 million funding round in AI-powered military startup Helsing, valuing the company at $13.8 billion. The investment reflects Europe's accelerated military spending amid geopolitical tensions. Helsing, founded in 2021, has expanded from software development to manufacturing drones, submarines, and aircraft. The round is one of the largest defense tech venture capital deals globally, alongside US rival Anduril Industries' $2.5 billion raise.

Spotify Technology SA's CEO Daniel Ek has led a significant investment round in the AI-powered military startup Helsing, securing €600 million ($690 million) in Series D funding. The round, announced on June 17, 2025, values Helsing at €12 billion ($13.8 billion) [1].

Ek, through his investment vehicle Prima Materia, spearheaded the funding round, which also included major participants such as Lightspeed Venture Partners, General Catalyst, Accel, and Swedish aerospace giant Saab [1]. The investment reflects Europe's accelerating military spending in response to geopolitical tensions, particularly the fallout from Russia's 2022 invasion of Ukraine [1].

Helsing, founded in 2021 by game developer and former German defense official Gundbert Scherf, and AI researcher Niklas Köhler, has rapidly expanded from software development to manufacturing drones, submarines, and aircraft. The company's AI-powered military decision-making software has been deployed by Ukrainian forces since 2022, establishing credibility in active combat zones [1].

This funding round is one of the largest defense tech venture capital deals globally, alongside US rival Anduril Industries' recent $2.5 billion raise at a $30.5 billion valuation. In 2024, global defense tech venture capital hit $3 billion across 102 deals, marking an 11% year-over-year increase [1].

The investment surge underscores the growing importance of advanced technologies in ensuring Europe's strategic autonomy and security readiness. Ek, estimated worth $10 billion, co-founded Prima Materia in 2020 with early Spotify investor Shakil Khan, pledging €1 billion toward European tech investments over the decade [1].

References:
[1] https://www.benzinga.com/markets/equities/25/06/46047038/spotifys-daniel-ek-leads-690-million-bet-on-defense-ai-startup-helsing-valued-at-13-8-billion-as-europe-ramps-up-military-spending
[2] https://www.digitalmusicnews.com/2025/06/17/daniel-ek-helsing-funding-round/