Berlin, July 2024 – YPOG advised AI defense company Helsing on its €450 million Series C financing round. The round was led by General Catalyst with participation from Elad Gil, Accel, Lightspeed, Plural and Greenoaks. The financing round is subject to government approval.
Helsing has been active in Ukraine since 2022 and recently established the Defence Manufacturers Alliance, a joint initiative with the Ukrainian government. Since its incorporation in 2021, the company has secured a series of government contracts, including the German Eurofighter Electronic Warfare upgrade (with partner Saab AB), the AI infrastructure for the Future Combat Air System (FCAS, with consortium HIS), and a number of classified contracts in the maritime and land domain.
The new funds will be used for product development and R&D; a particular focus will be on capabilities to secure European sovereignty in politically uncertain times including protecting the NATO Eastern Flank.
YPOG has been advising Helsing since its incorporation in 2021, including on its €209 million Series B financing round in September 2023.
Team
Dr. Benjamin Ullrich (Co-Lead, Transactions), Partner, Berlin
Dr. Tim Schlösser (Transactions), Partner, Berlin
Tobias Lovett (Co-Lead, Transactions), Senior Associate, Berlin
Benjamin von Mangoldt (Funds), Associate, Berlin
Farina Weber (Corporate), Associate, Berlin
About Helsing
Helsing is a next-generation key technology and software company. Focus: critical AI capabilities for the security and defense sector. Helsing was founded as an owner-managed technology company with the sole business purpose of developing and deploying AI capabilities in the security sector. As a European technology leader, Helsing's mission is to empower democratic societies to make sovereign decisions and enforce their own ethical standards.
Download Press Release: YPOG advises Helsing on €450 million Series C financing round
