Photo: Helsing drone / Ministry of Strategic Industry

Spotify founder Daniel Ek has invested 600 million euros in German defense startup Helsing, the Financial Times reports.

Helsing, founded in 2021, has expanded its activities from developing artificial intelligence software to manufacturing its own drones, aircraft, and submarines.

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The company's strike drones, assembled in southern Germany, are being supplied to Ukraine. Helsing has also signed contracts with the UK, Germany and Sweden.

Prima Materia, founded by Daniel Ek and Spotify co-investor Shakil Khan, already invested in Helsing in 2021 – even before the start of Russia's full-scale invasion of Ukraine.

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Now, according to Ek, Prima Materia is "redoubling its efforts" amid a new era of security challenges.

Helsing is also invested in by Swedish defense company Saab, venture capital funds Lightspeed Ventures, Accel, Plural, and General Catalyst.

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Thus, the total investment in Helsing will amount to 1.37 billion euros.

Helsing was founded by three partners – former video game entrepreneur Thorsten Reil, former German Defense Ministry official Gundbert Scherf, and AI researcher Nikolaus Köhler.

All three plan to take the company to an IPO in the future and have no intention of selling it.

With the new €600 million, Helsing's total investment is €1.37 billion. According to expert estimates, the company is among the five most valuable private technology companies in Europe.