German defence startup Helsing raises $693 million in a funding round led by Daniel Ek to enhance AI software and produce drones and aircraft.

Helsing has raised 600 million euros ($693.30 million) in its latest investment round, led by Spotify founder Daniel Ek. This funding has elevated Helsing's valuation to $12 billion, placing it among Europe's top five private tech companies. The firm, based in Munich, specializes in AI software and aims to expand into manufacturing drones and submarines. The investment round saw involvement from several notable investors, including Prima Materia, Lightspeed Ventures, and Accel.