Spotify's Daniel Ek leads $694 million investment in defense startup Helsing

Company Overview - Helsing, a European defense technology startup, has raised 600 million euros ($693.6 million) in a new funding round led by Prima Materia, a venture capital firm founded by Spotify CEO Daniel Ek [1] - Existing investors include Lightspeed Venture Partners, Accel, Plural, General Catalyst, and Saab, with new investments from BDT & MSD Partners [2] Industry Trends - The defense technology sector has become increasingly attractive to investors due to ongoing global conflicts, such as the Ukraine war and the recent escalation in the Middle East [2] - In 2024, venture funding in Europe's defense, security, and resilience sector reached an all-time high of $5.2 billion, marking a 30% growth over the past two years, while the broader VC market experienced a 45% decline during the same period [3]