Helsing Contract and Program Ledger
| Customer / Program | Year | Disclosed Value / Scope | Status |
|---|---|---|---|
| Ukraine Armed Forces. HF-1 loitering munitions | 2024 | 4,000 units (initial), produced with Ukrainian industry; unit price undisclosed | Delivered / in production |
| Ukraine Armed Forces. HX-2 strike drones | 2025 | 6,000 additional units announced Feb 2025; unit price undisclosed | In dispute: further orders reportedly paused early 2026; Helsing says 1,000+ still on order |
| Bundeswehr. Eurofighter EK / Cirra (with Saab) | 2023 selection, 2025 contract | EUR 258M (AI EW for 15 jets); part of Saab ~EUR 550M Arexis package | Contract signed Nov 2025; integration with Airbus over 3 years |
| Saab. Gripen E AI integration / Project Beyond (Centaur) | 2024-2025 | Joint program; value undisclosed | Centaur flew Gripen E in BVR dogfight, 2025 |
| Airbus. FCAS / Wingman AI infrastructure | 2024 | AI infrastructure role; value undisclosed | Ongoing |
| UK MoD. SG-1 Fathom / Atlantic Bastion | 2025 | Undersea surveillance network; Plymouth factory at-scale production; value undisclosed | Royal Navy trials Dec 2025; FOC targeted end-2026 |
| Bundeswehr. FCAS AI infrastructure | 2024 | AI backbone role; value undisclosed | Ongoing |
Updated at 2026-05
Helsing Funding Rounds and Valuation Trajectory
| Round (date, lead) | Amount Raised | Post-Money Valuation | Notable Investors |
|---|---|---|---|
| Series A (2021-11, Prima Materia) | EUR 102M | n/a | Prima Materia (Daniel Ek), Lightspeed |
| Series B (2023-09, General Catalyst) | EUR 209M | EUR 1.7B | General Catalyst, Saab (5 percent strategic stake, EUR 75M) |
| Series C (2024-07, General Catalyst) | EUR 450M | EUR 5B | General Catalyst, Accel, Saab, Lightspeed, Plural, Greenoaks, Elad Gil |
| Series D (2025-06, Prima Materia) | EUR 600M | EUR 12B | Prima Materia (Daniel Ek), Lightspeed, Accel, Plural, General Catalyst, Saab, BDT & MSD |
| Reported 2026 round (Dragoneer / Lightspeed) | ~USD 1.2B (RUMORED) | ~USD 18B (RUMORED) | Dragoneer (lead), Lightspeed (co-lead). Reported by FT / Bloomberg / TechCrunch, not closed or announced by Helsing |
Updated at 2026-05
Helsing HX-2 Battlefield Performance: Field Data vs Company Claims
| Metric | Ukraine field report (RUMORED, disputed) | Helsing trial claim | Notes |
|---|---|---|---|
| Target hit rate | ~35.7 percent (5 of 14 cases) | Close to 100 percent (Germany / UK / Kenya trials) | Small 14-case sample; field vs controlled-trial conditions differ |
| Successful launch rate | ~25 percent (catapult / mechanical faults) | Not separately disclosed | Front-line test by Ukraine's 1st Separate Center for Unmanned Aviation Systems |
| Order status | Further orders paused (Ukraine + Germany) | 1,000+ additional units still on order; not paused | Direct factual dispute between the two accounts |
| Monthly deliveries to Ukraine | Not stated in field report | Several hundred drones per month | Helsing claim; consistent with RF-1 / RF-2 capacity |
| Reported technical issues | Unstable video, weak target acquisition, missing AI components, EW jamming of operator link | Disputes document as unverified; cites successful frontline approval | Jamming near front lines disrupted human-operator control links |
Updated at 2026-01
Helsing HX-2 Monthly Production Capacity by Resilience Factory
RF-1 current ramp-RF-1 + RF-2 target
Updated at 2026-05
Helsing Product and Platform Launch Timeline
| System | Type / Role | First Disclosed | Status |
|---|---|---|---|
| Altra | Recce-strike command and ISR software | 2021-2022 | Production |
| Cirra | AI electronic warfare (emitter classification) | 2023 selection | Production: Bundeswehr Eurofighter EK |
| HF-1 | GPS-independent loitering munition | 2024 | Production: Ukraine (4,000 units) |
| HX-2 | AI strike drone, ~100 km range, swarm-capable | Late 2024 | Production: Ukraine; battlefield reliability disputed (early 2026) |
| Centaur | Autonomous AI fighter-pilot agent | 2024-2025 | Demonstrated on Saab Gripen E (BVR, 2025) |
| CA-1 Europa | Autonomous UCAV (approx. 4 tonnes), Grob-built airframe | Sep 2025 | Development: first flight target 2027, IOC 2029 |
| SG-1 Fathom | AI submarine-hunting underwater glider | 2025 | At-scale production at UK Plymouth factory; FOC target end-2026 |
Updated at 2026-06
Helsing in Defense
Helsing
$HELSING
Founded 2021. European AI defense. Battlefield AI software for Eurofighter + Gripen + FCAS; HX-2 strike drone (deployed Ukraine 2024-2025); HF-1 + HF-2 underwater autonomy. Series D €600M Jul 2025 at €5.4B valuation. Saab partnership for Gripen autonomy + Lürssen for naval.
Key Milestones
Sep 2021
Launch
Founded by Gundbert Scherf (ex-McKinsey, ex-German MoD), Niklas Köhler, Torsten Reil (ex-NaturalMotion CEO/Zynga GM) in Munich; AI for defense and democratic security focus
Dec 2021
Funding
Series A €100M led by Prima Materia (Daniel Ek); Eurofighter battlefield AI partnership announced with Saab Gripen E: Helsing AI sensor fusion integration
Sep 2023
Funding
Series B €209M led by General Catalyst at €1.7B valuation; Spotify CEO Daniel Ek (via Prima Materia) backs round: most prominent EU AI defense round to date
May 2024
Milestone
Centaur AI agent flies on operational Saab Gripen E in real-world flight (May 2025); first publicly known AI flight on operational Western fighter
Jul 2024
Funding
Series C €450M led by General Catalyst at €4.95B valuation; SAAB partnership for Gripen autonomy deepens; Eurofighter Centaur preparation accelerates
Oct 2024
Product
HX-2 strike drone unveiled; 4,000 to be delivered to Ukraine in 2024-2025 production batches: purpose-built loitering munition with Helsing Altra autonomy
Feb 2025
Partnership
Lürssen partnership announced for naval autonomy; SG-1 Fathom underwater glider production scale; first European AI-defense maritime vertical
Mar 2025
Partnership
UK MoD selects Helsing as preferred partner for Tempest AI mission systems integration; first non-British AI prime in major UK fighter program
May 2025
Milestone
Centaur AI dogfight demonstration on Saab Gripen E flight near Linköping; first publicly known AI flight of operational fighter; major EU AI-on-fighter inflection
Jul 2025
Funding
Series D €600M at €12B valuation led by Prima Materia (Daniel Ek); 2.4x from €5B Series C 11 months prior; largest defense-tech round in European history
Sep 2025
Product
CA-1 Europa autonomous UCAV revealed; jet-powered loyal wingman platform: Helsing's first hardware air vehicle entry, putting it head-to-head with Anduril Fury
Nov 2025
Commercial
Eurofighter battlefield AI Centaur software fielded with Luftwaffe; first AI mission system in NATO 4.5-gen fleet: major operationalization milestone
Apr 2026
Expansion
Centaur expanded to Eurofighter Tranche 4 fleets across Italy, Spain, Germany; first multi-national AI mission system fielded simultaneously across Eurofighter consortium