German defence start-up Helsing raises 600 million euros in latest investment round
FILE PHOTO: A message reading "AI artificial intelligence," a keyboard and robot hands are seen in this illustration created on January 27, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
BERLIN (Reuters) -German defence start-up Helsing has raised 600 million euros ($693.30 million) in its latest investment round, lead by Spotify founder Daniel Ek, the firm said on Tuesday.
The latest investment round has raised Helsing's value to $12 billion, the Financial Times reported on Tuesday, citing people familiar with the matter.
This positions the start-up among the top five private tech companies in Europe, the FT added.
The investment round was lead by Prima Materia, an investment company founded by Ek and Spotify investor Shakil Khan, which doubled its investment in the firm.
Other investors included Lightspeed Ventures, Accel, Plural, General Catalyst and SAAB, Helsing said in a statement.
The Munich-based defence start-up, which specializes in AI software and is moving to produce its own drones, aircraft and submarines, hopes to benefit from governments ramping up defence spending amid rising geopolitical tensions.
($1 = 0.8654 euros)
(Reporting by Isabel Demetz, editing by Rachel More)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
an hour ago
- The Star
Musk's xAI in talks for $4.3 billion equity funding, Bloomberg News reports
FILE PHOTO: A 3D-printed miniature model of Elon Musk and the xAI logo are seen in this illustration taken January 23, 2025. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) -Elon Musk's AI startup xAI is in talks to raise $4.3 billion through an equity investment on top of its $5 billion debt funding plans, Bloomberg News reported on Tuesday, citing information shared with investors. Between its founding in 2023 and when the debt sale was launched this year, xAI raised $14 billion through equity fundraising, the report said. The Grok chatbot maker needs new funding, partly because it has already spent most of what it previously raised, according to the report. XAI did not immediately respond to Reuters' request for comment. (Reporting by Jaspreet Singh in Bengaluru; Editing by Leroy Leo)
The Star
an hour ago
- The Star
Factbox-Stablecoins gain ground with corporates as US legislation takes shape
A smartphone with the PayPal logo is placed on a laptop in this illustration taken on July 14, 2021. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) -As the U.S. stablecoin bill, known as the GENIUS Act, advances in the Senate, a once-niche corner of the crypto industry is gaining rapid traction among global corporates. Stablecoins, a type of cryptocurrency designed to maintain a constant value – typically pegged 1:1 to the U.S. dollar – are widely used by crypto traders to move funds between tokens. Analysts say the bill, if passed, could be a key catalyst for more companies across sectors to adopt stablecoins, as it would provide much-needed regulatory and legislative clarity. Here is an overview of major companies globally that have launched, or are considering launching, their own stablecoins: MAJOR U.S. BANKS: Big U.S. banks are holding internal discussions about expanding into cryptocurrencies as they get stronger endorsements from regulators, but initial steps will be tentative, centering on pilot programs, partnerships or limited crypto trading, Reuters reported in May. Bank of America could launch stablecoins, its CEO Brian Moynihan said earlier this year, while Morgan Stanley wants to work with regulators to see how it can be a middleman for crypto-related transactions, CEO Ted Pick said earlier this year. BofA declined to comment, while Morgan Stanley did not immediately respond to Reuters requests for comment. SOCIETE GENERALE: The French bank said in June it plans to launch a publicly tradable, dollar-backed stablecoin through its digital asset subsidiary. WALMART AND AMAZON: The U.S. retail giants have recently explored issuing their own stablecoins, the Wall Street Journal reported earlier this month, citing people familiar with the matter. The companies did not immediately respond to a Reuters request for comment. BANCO SANTANDER SA: The Spanish bank is mulling an expansion in digital assets, including early-stage plans to offer a stablecoin, Bloomberg News reported in May, citing people with knowledge of the matter. The bank did not immediately respond to a Reuters request for comment on the matter. WORLD LIBERTY FINANCIAL: U.S. President Donald Trump's World Liberty Financial crypto venture launched a dollar-pegged stablecoin this year, called USD1. The token has a market value of roughly $2.2 billion, according to CoinGecko. PAYPAL: The payments giant launched a U.S. dollar stablecoin in August 2023, becoming the first major financial technology firm at the time to embrace digital currencies for payments and transfers. CIRCLE INTERNET: The newly public company launched its flagship USDC stablecoin in 2018. It is now one of the largest stablecoins by market value, with a market cap of $61.5 billion, according to CoinGecko. PAXOS: The crypto-native company issues the Global Dollar stablecoin (USDG) and the Pax Dollar (USDP), both pegged 1:1 to the U.S. dollar. TETHER: The crypto company issues an eponymous stablecoin, which is the world's largest by market value, according to CoinMarketCap. The USDT token, with a market cap of over $155 billion, is pegged to the U.S. dollar. (Reporting by Manya Saini in Bengaluru; additional reporting by Ateev Bhandari; Editing by Shailesh Kuber)
The Star
2 hours ago
- The Star
'GTA VI' delay weighs on global videogame market growth, data shows
A smartphone with the Electronic Arts logo is seen in front of a displayed "Battlefield 2042" logo in this illustration taken September 16, 2021. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) -The global videogame market's growth rate is expected to improve marginally in 2025 from the previous year, according to a report from research firm Newzoo, seen exclusively by Reuters on Tuesday. Analysts and industry experts had projected a surge in industry growth this year due to the expected blockbuster launch of Take-Two's "Grand Theft Auto VI" and new consoles. However, the delay of the long-awaited title to next year and price hikes to videogame hardware, arising from tariffs, have made consumer spending uncertain. The global videogame market is projected to grow 3.4% to $188.9 billion in 2025, compared with last year's growth of 3.2%, according to the report. "This forecast reflects concrete changes, hardware cycles, pricing trends, install base growth, and title pipelines," said Michiel Buijsman, principle analyst at Newzoo. Compounded annually, Newzoo expects the market to grow 3.3% till 2027, compared with its earlier forecast of 3.7%. As "GTA VI" is scheduled to launch in 2026, the industry will most likely see the boost from sales next year along with the release of other premium titles such as Capcom's "Resident Evil Requiem." The launch of "GTA VI" on PC is also expected to carry growth through 2027, the report said. Price increases to Microsoft's Xbox and Sony's PlayStation devices have sparked fears of slower hardware sales as consumers globally grapple with market uncertainty, even as Nintendo's Switch 2 became the company's fastest-selling console. Xbox also unveiled its own handheld console, the Xbox Ally, earlier this month, developed in partnership with ASUS and set to launch in holidays 2025. (Reporting by Zaheer Kachwala in Bengaluru; Editing by Shailesh Kuber)
