Latest news with #HX-2
Sinar Daily
08-07-2025
- Business
- Sinar Daily
US$650 million Spotify share sale funds 'military AI,' activist slams CEO Ek
SHAH ALAM – Spotify's co-founder and Chief Executive Officer (CEO) Daniel Ek is significantly increasing his investment in Europe's defence ambitions, leading a nearly US$700 million funding round into Helsing, an Artificial Intelligence-powered military tech start-up, as war escalations and geopolitical tensions fuel investor interest in the global arms race. The investment, led by Ek's venture firm Prima Materia, also drew support from prominent investors such as Lightspeed Venture Partners, Accel, Saab and General Catalyst. This announcement comes at a time when global conflict, from Ukraine to the genocide in Gaza, has pushed military tech into the spotlight. - AFP file photo Helsing, founded in 2021 and operational in Germany, France and the UK, builds AI software to process battlefield data in real-time and recently expanded into drone manufacturing with its HX-2 model. The company states this new capital will be channelled towards strengthening Europe's technological sovereignty, particularly in critical areas like defence AI. "As Europe rapidly strengthens its defence capabilities in response to evolving geopolitical challenges, there is an urgent need for investments in advanced technologies that ensure its strategic autonomy and security readiness,' Ek said in a statement recently. This announcement comes at a time when global conflict, from Ukraine to the genocide in Gaza, has pushed military tech into the spotlight. However, the decision by Spotify's top executive to invest heavily in military AI has also reignited ethical concerns about the intersection of tech, warfare, and capitalism, especially in light of the ongoing Israeli aggression in Gaza. Filmmaker and activist Sadia Hannan, known on social media as @naleybynature, voiced serious concern over Ek's investment in Helsing, drawing connections between tech funding and the humanitarian crisis in Palestine. "Something really disturbing is happening at Spotify and I want to talk about it. I used to work at Spotify when it was still a small start-up. "It was exciting back then, the platform was creating space for artists around the world. But the way it has grown has been violent and insidious," she said in a video uploaded to her Instagram. Hannan pointed out that Ek has sold nearly US$650 million worth of Spotify shares to fund what she called 'military AI', referring to Helsing. Her criticism extends beyond Ek, citing a UN report by Special Rapporteur Francesca Albanese that named several global tech companies, including IBM, Microsoft, Amazon and Palantir, as aiding Israel's military operations in Gaza. 'These tech companies are not just testing their toys on Palestinians. They're killing Palestinians. And what's even worse is that they're profiting off of it. "Military AI is big money. What we allow them to do to Palestinians is ultimately what we allow them to do to us," she said. She also added that Spotify's largest institutional shareholders, BlackRock and Vanguard, are among the biggest global backers of companies profiting from the arms industry, including those supporting Israel's military.
Yahoo
24-06-2025
- Business
- Yahoo
Spotify's $694M Bet On AI War Tech: What Daniel Ek's Helsing Move Signals For Investors Watching The Defense Boom
European artificial intelligence defense startup Helsing a €600 million ($694 million) funding round on Tuesday, led by Prima Materia, the investment firm founded by Spotify (NYSE:SPOT) CEO Daniel Ek and Shakil Khan, an earlier investor in Spotify. The company said the new funding will help advance Europe's "technological sovereignty" by scaling domestic production of AI-driven defense systems. Helsing uses artificial intelligence to support military decision-making by connecting real-time sensor and weapons system data with advanced software architectures, according to its website. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can Founded in 2021, the company operates in Germany, France, and the U.K. Its product portfolio includes platforms like the HX-2, which reflects the company's move to integrate AI with battlefield-ready hardware. According to Helsing, its technologies are already being deployed under several government contracts, though specific client names have not been disclosed. The latest investment round includes contributions from existing stakeholders Lightspeed Venture, Accel, General Catalyst, Plural, and Swedish defense firm SAAB. New participants include BDT & MSD Partners, according to Helsing. Ek, who also serves as Helsing's chairman, said the investment reflects an urgent need to bolster Europe's security architecture amid rising global tensions. "As Europe rapidly strengthens its defense capabilities in response to evolving geopolitical challenges, there is an urgent need for investments in advanced technologies that ensure its strategic autonomy and security readiness," Ek said in the statement. Trending: Maximize saving for your retirement and cut down on taxes: . Helsing's prior valuation stood at approximately €5 billion following a €450 million round led by General Catalyst in 2023. The company declined to confirm its current valuation due to pending regulatory approvals, CNBC says. The funding surge reflects a broader shift in the European investment landscape. According to the NATO Innovation Fund, venture capital backing for defense, security, and resilience startups in Europe reached a record $5.2 billion in 2024. That figure represents a 30% increase over the past two years, despite a 45% contraction in general VC markets over the same period. According to CNBC, ongoing conflicts such as the war in Ukraine and conflict between Israel and Iran have driven investor interest in technologies that enhance operational readiness and strategic autonomy. Helsing is among a growing list of AI-focused defense startups offering governments and militaries tools to manage complex warzones through automation and real-time says it will use the newly raised capital to advance its AI-based software platforms and scale integrated systems like the HX-2, a mass-producible strike drone designed to operate in electronic warfare environments. The HX-2 is part of the Altra platform, which enables coordinated swarm strikes and integration with battlefield intelligence systems. According to Helsing, the company is already executing large contracts for democratic governments, though specific partners have not been disclosed. As Europe ramps up its domestic defense capabilities, Helsing may emerge as a strategic player at the intersection of AI and national security. With financial backing from Spotify's leadership and top-tier investors, the company may play a defining role in shaping the continent's military future. Read Next: Here's what Americans think you need to be considered wealthy. Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article Spotify's $694M Bet On AI War Tech: What Daniel Ek's Helsing Move Signals For Investors Watching The Defense Boom originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
17-06-2025
- Business
- CNBC
Spotify's Daniel Ek leads $694 million investment in defense startup Helsing
European defense technology startup Helsing on Tuesday said that it's raised 600 million euros ($693.6 million) in a bumper new round of funding. The investment was led by Prima Materia, the venture capital firm founded by Spotify CEO Daniel Ek and by Shakil Khan, an early investor in the popular music streaming app. Ek is also chairman of Helsing. Existing investors Lightspeed Venture Partners, Accel, Plural, General Catalyst and Saab also put money in, alongside new investors BDT & MSD Partners. Defense and the technology behind it have become a hot area for investors lately, amid major global conflicts, including the Ukraine war to Israel-Gaza. Last week saw a further escalation of war in the Middle East as Israel launched a series of airstrikes against Iran. In 2024, venture funding in Europe's defense, security and resilience sector reached an all-time high of $5.2 billion, according to a recent report from the NATO Innovation Fund. The sector grew 30% in the past two years, outperforming the broader VC market, which saw a 45% decline over the same period. Founded in 2021, Helsing sells software that uses artificial intelligence technology to analyze large amounts of sensor and weapons system data from the battlefield to inform military decisions in real time. Last year, the startup also began manufacturing its own line of military drones, called HX-2. Helsing, which operates in the U.K., Germany and France, said it would use the fresh cash to invest in Europe's "technological sovereignty" — which refers to attempts to onshore the development and production of critical technologies, such as AI. 'As Europe rapidly strengthens its defence capabilities in response to evolving geopolitical challenges, there is an urgent need for investments in advanced technologies that ensure its strategic autonomy and security readiness," Ek said in a statement out Tuesday. Helsing did not disclose its new valuation following the latest financing round, which is subject to "certain approvals," according to a statement. The firm was previously valued at around 5 billion euros in a 450 million euro funding round led by General Catalyst last year.
Time of India
03-06-2025
- Politics
- Time of India
Six Chilling Ways Putin's Russia Could Destroy the UK Within Hours: British Government Warns
Live Events FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Britain might be hit by waves of kamikaze drones , missiles, and cyber hacks if a war with Russia happens soon. The UK Ministry of Defence says the country is not ready for a full-on war like this. The SDR report is 144 pages long and shows how vulnerable Britain is, as per military bases of the UK are now under constant threat of a possible Russian targeted attack, with sophisticated drones, long-range cruise, ballistic and hypersonic missiles, all on the table for the Kremlin. Key UK targets: Navy bases in Portsmouth, Plymouth, and Clyde. Overseas targets: RAF Akrotiri , Al Minhad Air Base, and Diego Garcia, as per Mail Online report.A digital army of Russian hackers might attack UK government websites, the stock market, communications, and power saboteurs could attack oil rigs, satellite systems, and merchant ships. They might also try to stop trade ships and harm industries that help the UK military. Russia could spread lies and fake news to confuse people, cause panic, and divide society. Russia might damage or block space-based communication systems the UK depends on. UK troops and military spots outside Britain could also be hit hard, as per defences are weak right now, low missile stock, poor recruitment, low morale. The UK's current defences are not enough to stop drone or missile swarms like the ones seen in Ukraine, Israel, and Russia. Recent attacks by Ukraine's cheap kamikaze drones showed how powerful even small weapons can be. Ukraine used vans and drones to destroy two secret Russian airbases, costing Russia £5.2 billion in damage, as per Mail Secretary John Healey said £1 billion will go to boost air and missile defences and start a cyber and electromagnetic warfare unit. £1.5 billion will be spent to build at least six new munitions factories in the UK. The UK plans to buy 7,000 long-range British-made weapons. Britain plans on pushing the defence budget, with more funds for homes for military jets might carry nuclear weapons again. British troops in Estonia will get hundreds of new kamikaze drones called HX-2. The UK cadet force will grow to 250,000 school students for a 'whole of society' defence system, as stated in the United Kingdom is at risk of a potential Russian attack, with reports suggesting that a string of drone attacks, economic sabotage, cyber hacks and propaganda are being prepped by the Kremlin. The country is not well-prepared today, but the government is planning new defences, more weapons, and stronger forces. Experts say it's time for a huge shift in mindset to keep the UK safe in the future, as mentioned in the Mail Online could use drones, missiles, cyber hacks, and fake news to cause say the UK is not fully prepared but is working on improving defences.
Yahoo
13-05-2025
- Business
- Yahoo
German defence tech firm Helsing unveils new underwater drone
German defence company Helsing, which specializes in AI technology, has developed an underwater drone that can be deployed to protect ships and critical infrastructure, the Munich-based firm said on Tuesday. Dubbed SG-1 Fathom, the autonomous underwater glider is capable of patrolling "for up to three months at a time in search of underwater threats," Helsing said in a press release. The company also unveiled the Lura software platform and advanced AI system which deploys on the drone and is able to detect and classify sounds made by ships and submarines "with unprecedented sensitivity and accuracy" thanks to a large acoustic model similar to language models. "Lura's use of a large acoustic model enables it to detect acoustic signatures 10x quieter than other AI models, even differentiating between specific vessels from within the same class, and at a speed up to 40x faster than human operators," Helsing said. The company also makes the HX-2 kamikaze drone, which is used by Ukraine. "Lura detects [threats] so our navies can deter," said co-founder and co-chief executive Grundbert Scherf. "We must harness new technologies to keep pace with the threats against our critical infrastructure, national waters, and way of life. Deploying AI to the edge of underwater constellations will illuminate the oceans and deter our adversaries, for a strong Europe." Western countries have been looking for ways to protect pipelines and data cables on the seabed from sabotage, attacks and spying attempts for some time.
