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Benzinga

Business

Kaustubh Bagalkote

Spotify's Daniel Ek Leads $690 Million Bet On Defense AI Startup Helsing, Valued At $13.8 Billion As Europe Ramps Up Military Spending

Daniel Ek Helsing SPOT Spotify Europe

Spotify

Spotify Technology SA (NYSE:SPOT) CEO Daniel Ek has positioned his investment firm at the forefront of Europe’s defense tech boom, leading a €600 million ($690 million) Series D funding round in AI-powered military startup Helsing.

What Happened: Prima Materia, Ek’s investment vehicle, spearheaded the round announced June 17, valuing the Munich-based defense unicorn at €12 billion ($13.8 billion). Major participants included Lightspeed Venture Partners, General Catalyst, Accel, and Swedish aerospace giant Saab, according to company statements, reported the Observer.

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