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Spotify Founder Invests $640M in AI Drone Maker Supplying Ukraine

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Liubava Petriv
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Spotify Founder Invests $640M in AI Drone Maker Supplying Ukraine
Daniel Ek, Co-Founder and CEO of Spotify, speaks onstage during the “Now Playing” Creator Day hosted by Spotify at its Los Angeles Campus on November 13, 2024 in Los Angeles, California. (Source: Getty Images)

David Ek, co-founder and CEO of Spotify, has invested more than €600 million (around $640 million) in Helsing—a German defence technology company that produces and supplies AI-powered drones, including thousands already delivered to Ukraine.

The funding round, led by Ek’s investment firm Prima Materia, brings Helsing’s valuation to approximately €12 billion (about $12.9 billion), placing it among the five most valuable private tech start-ups in Europe.

Founded in 2021, Helsing began as a company focused on artificial intelligence software for defence. Today, it is rapidly evolving into a full-spectrum defence tech firm, developing its own drones, autonomous aircraft systems, and unmanned submarines—amid a global surge in military spending driven in part by Russia’s full-scale invasion of Ukraine.

“This war has made it clear: the future of defence is driven by AI, scale, and autonomy,” Ek told the Financial Times, emphasizing the transformative role of advanced technologies in modern conflicts.

The latest investment round also includes backing from Swedish defence group Saab, along with major venture capital firms such as Lightspeed Venture Partners, Accel, Plural, and General Catalyst. With this round, Helsing has raised a total of €1.37 billion (approximately $1.48 billion) to date.

The Munich-based start-up has secured contracts with the UK, German, and Swedish governments and recently tested its AI-powered air combat system on a Saab fighter jet. It has also announced plans to deploy a fleet of unmanned surveillance submarines.

Helsing was founded by Gundbert Scherf (a former German defence ministry official), video game entrepreneur Torsten Reil, and AI researcher Niklas Köhler. The founders have committed to remaining independent, with plans to take the company public in the future rather than sell.

According to FT, despite some debate over his role in the defence sector, Ek—who also chairs Helsing—stands by his decision.

“I’m sure there will be criticism, and that’s okay,” he said. “I genuinely believe this is the right step for Europe.”

Previously, it was reported that Ukrainian startup Strategy Force Solutions successfully completed the first real-world combat missions using autonomous drone motherships paired with AI-guided attack drones.

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