Daniel Ek-backed defense tech Helsing to raise $1.2B at $18B valuation

The beginning of the five-year European military aircraft Helsinki is said to be close to raising $1.2 billion for an $18 billion deal. The round is expected to be led by Dragoneer and led by Helsing investor Lightspeed. The Financial Times reported.

Helsing was last promoted less than a year ago, in June 2025in a partnership led by Spotify’s billionaire founder Daniel Ek. This was an investment of €600 million at an estimated cost of €12 billion ($14 billion USD). So this new cycle is a step.

While Helsing isn’t Europe’s only tech-savvy hedge against unicorns, it’s one that investors see as the most important. For example, German drone manufacturer Quantum Systems raised €180 million in Novemberwhich was worth more than €3 billion. And a year ago, Lisbon-based Tekever raised £400 million on worth over £1 billion. Amid the ongoing war with Russia in Ukraine, a showcase for new technologies, defense startups have become a hot spot for VCs.

Helsing, Dragoneer, and Lightspeed could not immediately be reached for comment.