The series D round was led by Daniel Ek via his investment vehicle Prima Materia,<\/a>\u00a0alongside existing investors Lightspeed Ventures, Accel, Plural, General Catalyst and SAAB and new investors BDT & MSD Partners.<\/p>\n Ek is named as Chairman of Helsing in Tuesday’s (June 17) press release announcing the company’s latest funding round.<\/p>\n \u201cAs Europe rapidly strengthens its defence capabilities in response to evolving geopolitical challenges, there is an urgent need for investments in advanced technologies that ensure its strategic autonomy and security readiness,” said Ek in a statement<\/a> on Tuesday.<\/p>\n “By doubling down on our investment, Prima Materia reaffirms its commitment to empowering Europe\u2019s technological sovereignty\u2014an ambition Helsing perfectly embodies.\u201d<\/p>\n Daniel Ek<\/span><\/p><\/blockquote>\n Ek added: \u201cHelsing is uniquely positioned with its AI leadership to deliver these critical capabilities in all-domain defence innovation.<\/p>\n “By doubling down on our investment, Prima Materia reaffirms its commitment to empowering Europe\u2019s technological sovereignty\u2014an ambition Helsing perfectly embodies.\u201d<\/p>\n Today\u2019s announcement follows Helsing\u2019s Series C funding of \u20ac450 million in July 2024, involving General Catalyst, Elad Gil, Accel, Saab, Lightspeed Ventures, Plural and Greenoaks.<\/p>\n The Financial Times<\/em> reports<\/a> that the latest investment round has upped Helsing’s value to $12 billion.<\/strong> The company says that it will use the strategic funding to accelerate its “leadership in all-domain defence innovation”.<\/p>\n Ek\/Prima Materia’s “doubling down” of their investment in Helsing arrives five years after the Spotify boss pledged a personal commitment of\u00a0\u20ac1 billion<\/strong>\u00a0over the next decade to invest in European technology companies.<\/p>\n Ek referred to these companies \u2013 operating in fields from machine learning to biotechnology, material sciences and energy \u2013 as so-called \u2018Moonshots\u2018 that would focus on what he said at the time would be \u201cthe deep technology necessary to make a significant positive dent\u201d.<\/p>\n Prima Materia<\/a> and Ek subsequently joined funding rounds for the likes of battery maker Northvolt<\/a>,\u00a0H2 Green Steel<\/a>, climate venture\u00a0Pale Blue Dot<\/a>, and AI investment firm\u00a0Air Street Capital<\/a>.<\/p>\n Ek’s investment company is also an original backer of Neko Health<\/a>, the “preventative healthcare technology company co-founded by Hjalmar Nilsonne and Daniel Ek, which offers its Body Scans in London and Stockholm.<\/p>\n In November 2021, it was revealed that Ek, via Prima Materia, had invested \u20ac100 million<\/a> into Germany-born defence AI company Helsing AI. Ek also joined the company\u2019s Board,<\/a> alongside Helsing\u2019s co-founders Torsten Reil, Gundbert Scherf and Niklas K\u00f6hler.<\/p>\n Ek\u2019s involvement with Helsing AI has previously attracted criticism<\/a> from artists.<\/p>\n![](\"https:\/\/www.musicbusinessworldwide.com\/files\/2023\/03\/2EWAJAH-80x53.jpg)