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Helsing, a German defence technology company, is on course for an $18 billion valuation, making the company one of Europe’s most valuable startups. The valuation represents a substantial increase for the company from a year ago when it was sitting at a $14 billion valuation.

Helsing develops AI software to analyse battlefield data, and also manufactures kamikaze drones that explode on targets. Additionally, the company has expanded into autonomous underwater vessels and unmanned aircraft, having partnered up with established European defence contractors.

Analysis

The funding round - so how much money Helsing was seeking to expand business operations - was vastly oversubscribed. This demonstrates strong investor enthusiasm for defence technology following a trend of geopolitical tensions. In particular, Helsing has secured a €269 million contract to supply drones to German armed forces, with the potential for additional orders worth over a billion euros.

This is significant because for decades European defence budgets declined following the Cold War’s end as this money was redirected toward social programmes. The Russia-Ukraine invasion shattered this consensus, making European countries realise that they require credible military deterrence.

What does this mean for the defence and technology sector?

  • Defence technology investment is shifting from typical large contractors to innovative startups that are developing AI, drones and autonomous systems

  • High valuations reveal opportunity but also warn of a bubble that may burst if battlefield limitations are discovered or geopolitical tensions suddenly ease Sovereignty concerns are driving

  • European governments to support domestic defence technology despite superior offerings from US firms

How to Use This In Applications

10 May 1773 — The Tea Act is passed, granting the British East India Company a monopoly on the North American tea trade(!)

11 May 1812 — The first and only assassination of a Prime Minister of Britain. Spencer Percival was allegedly mistaken for someone else and killed in the House of Commons.

12 May 1969 — Minimum voting age in Britain was lowered from 21 to 18 through the Representation of the People Act 1969

13 May 1787 — The first fleet of ships carrying convicts to the new penal colony of Australia left England. The Criminal Law Act 1776 suspended the transportation of convicts to America as it under revolution, so they switched to Australia.

14 May 2013 — R v Stuart Hazell is decided, sentencing Stuart Hazell to 38 years in prison for the murder of Tia Sharp, a 12 year old.

15 May 1536 — Trial of Anne Boleyn is held. She is accused of incest, sleeping with four men and plotting to kill her husband, King Henry VIII. (Why relevant? Well, the guy changed the law AND established his own church so that he could marry her three years prior)

16 May 1983 — London starts using experimental wheel clamps for illegally parked vehicles. Read the debate here.

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