A former German defence adviser runs Europe's $18B drone maker. Its AI strike drones are already flying for Ukraine.
Helsing co-CEO Gundbert Scherf is a former special adviser at Germany's defence ministry. Helsing's AI strike drones fly for Ukraine, Germany ordered 4,300 HX-2 and investors value it at $18B. Founders, funding, contracts, every product on video, and where the evidence splits. Confirmed vs Reported.

Behind Robotics editorial
A former German defence adviser runs Europe's $18B drone maker. Its AI strike drones are already flying for Ukraine.
Helsing is not a slideware story. It builds AI-guided strike drones that Germany has ordered by the thousand and that Ukraine has flown in combat, and in July investors valued it at $18 billion.1,2 Its co-CEO Gundbert Scherf was a special adviser at the German defence ministry from 2014 to 2016 (Reported, his own profile and press), and he now runs the company alongside Torsten Reil.3,4 It is now a major drone supplier to Kyiv and the anchor supplier of Germany's new loitering-munition fleet. It also publishes no group revenue, and its newest drone's battlefield record is still argued over by its own customers. This is the full picture — interactive: founders, products, timeline, technology, insight library, locations — each figure marked Confirmed or Reported.
Scroll · click cards to expand
Company film · Behind RoboticsHelsing in 90 seconds
DRAFT company film · ~88 s. Credit: official Helsing footage (@HelsingAI) cut by Behind Robotics; Ryan VO +6%. Ghost-hosted 540p preview for review (media URL); full 1080p stays local in film/. Rights: Helsing media kit says footage must remain “unaltered”; overlays may stretch that — confirm with communications@helsing.ai before publishing. Sources: film/CREDITS.txt, film/sources-film.md.
- Real, AI-enabled, deployed. HF-1: 4,000 ordered, delivered in volume (delivery Confirmed by company; counts Reported).5,6 HX-2: 750 delivered Dec 2025 per Helsing (Reported).7
- Germany is the anchor customer. First call-off 4,300 HX-2 for about €270M (Confirmed); CFSN development €220M+ range (Reported).8,9,10
- The money. ~€1.37B through Series D, then $1.8B at $18B (Jul 2026). Prima Materia led A and D; General Catalyst B and C (amounts Confirmed; valuations mostly Reported).11,12,13,14,1
- The people. Reil sold NaturalMotion to Zynga for $527M (2014). Scherf: MoD special adviser then McKinsey partner. Köhler: physicist / Hellsicht.15,3,16
- Evidence splits. Helsing 39/41 trials; US Army 15/17; Politico 5/14 Ukrainian use. Helsing disputes Ukrainian reports.17,18,19,20
- Versus Anduril: $18B vs $61B; Anduril publishes $2.2B 2025 revenue; Helsing publishes none.21,22

Real weapons, real war, proof still arriving
Helsing was founded in Munich in 2021 by Torsten Reil, Gundbert Scherf and Niklas Köhler as an AI software company for armed forces.23,24 Five years later it sells strike drones, builds undersea gliders, owns an aircraft maker and is priced as a prime contractor. The company calls itself predominantly European-owned despite a round that included US investors.1
Our reading has three parts. First, the products exist and are in service. Ukraine has been receiving Helsing drones since at least early 2025, Germany has put thousands more on order, and the company's AI software has flown a Saab Gripen fighter.7,8,25 Second, Helsing is a serious weapons supplier by volume, not just by valuation. Third, the quality evidence is mixed — reported hit rates run from 36% in one press tally to 95% in the company's own trial results. We keep those numbers side by side.
What Helsing has beyond product is access: a Berlin customer, a board with Airbus's former chief executive, and a co-CEO who was a special adviser on armaments inside the German defence ministry. That is a real asset. It is not the same asset as audited revenue.26,3
Three founders — click a card for the vitae
Founded Munich early 2021; €8.5M seed that spring.23,27 Reil's Aug 2026 podcast account: he raised money, Scherf covered military/politics, Köhler covered AI/engineering (Reported).28 Headshots: official Helsing People media kit portraits (Photo: Helsing / helsing.ai).24,29
Torsten Reil
| When | What | Label |
|---|---|---|
| 1998–99 | BA biological sciences, Oxford; MSc evolutionary/adaptive systems, Sussex27 | Reported |
| c. 2001 | Oxford research student; idea behind NaturalMotion30,31 | Reported |
| 2001 | Co-founds NaturalMotion31,30 | Reported |
| 30 Jan 2014 | Zynga buys NaturalMotion ~$527M15,32,31 | Confirmed (filing) |
| 2014–2017 | NaturalMotion CEO within Zynga to Jun 201727 | Reported |
| 2021 | Co-founds Helsing, co-CEO27,24 | Confirmed |
| Aug 2026 | Podcast: autonomous mass; ~1,300 staff claim28 | Reported |
We do not claim a completed doctorate.31,30 Forbes ~$2.3B each founder (Reported).33
Gundbert Scherf
| When | What | Label |
|---|---|---|
| Early career | Cambridge (Marie Curie), FU Berlin, Sciences Po; doctorate Berlin (Forbes)34,33 | Reported |
| 2008–2014 | McKinsey Berlin, Associate Partner3 | Reported |
| 2014–2016 | Special adviser, German MoD, armaments3,4,34 | Reported |
| 2017–2021 | McKinsey partner, aerospace & defence3 | Reported |
| 7 Nov 2019 | Witness, Bundestag Berateraffäre inquiry35 | Confirmed |
| Mar 2021 | Co-founds Helsing; co-CEO3,24 | Confirmed |
| From Aug 2025 | Listed lobbyist for Helsing SE36 | Reported |
Context, not wrongdoing. No finding of wrongdoing in sources we read.37
Niklas Köhler
Board, advisers and early backers
| Who | Role | Label |
|---|---|---|
| Daniel Ek (Prima Materia) | Led Series A and D; co-chair with Enders23,14,1 | Confirmed |
| Tom Enders | Board since 29 Mar 2022; former Airbus CEO26 | Confirmed |
| Jeannette zu Fürstenberg / Denis Mercier | Board members1 | Confirmed |
| General Catalyst | Led Series B and C12,13,41 | Confirmed |
| Saab | €75M ~5% Sep 2023; Centaur/Arexis/Cirra partner42,43 | Confirmed |
Click a thumbnail for specs, brief and video
Common layer: Altra — sensor fusion and swarm control.44,7 Specs only from Confirmed/Reported research. No official video: Altra, HF-1, CA-1EA. Altra card uses Helsing warehouse production stills from helsing.ai (Altra-class / production rows); HF-1 still placeholder.
HX-2
About 12 kg; claimed range up to 100 km; warhead ~4.5–5 kg; AI tracking when jammed.17,45 Unveiled Dec 2024.7 Germany ordered 4,300 for ~€270M; 750 to Ukraine by Dec 2025 per Helsing (Reported).8,7 Trial claim 39/41 (Reported, company).17
Orders ConfirmedSpecs / trials company claims
Video: “Helsing HX-2 Field Testing”, Helsing (official Helsing YouTube channel), 10 Nov 2025, 1:01. Credit: Helsing.
Altra
Recce-strike software: ISR + strike coordination; swarming.44 Welt quotes a Ukrainian soldier calling Altra solid (Reported).7
Stills: Helsing Altra media kit (helsing.ai)
HF-1
Modified third-party airframe + Helsing software (Reported).7,46 4,000 ordered; delivery under way (Confirmed, company).5 Unit price ~€16.7k–€17k (Reported).7,47
SG-1 Fathom + Lura
1.95 m, 60 kg, up to three months submerged; Lura classifies contacts. Unveiled May 2025; Plymouth Nov 2025; RN trial Dec 2025.48,49,50 No RN order public.51
Spec Confirmed (company)Third-party video
Video: “Helsing SG-1 Fathom underwater glider and Lura acoustic software”, Naval News (third-party upload on the Naval News YouTube channel, not by Helsing), 4 Oct 2025, 4:43. Credit: Naval News. Not an official Helsing upload; embed is YouTube's own player.
CA-1 Europa
Announced Sep 2025. First flight planned early 2027; IOC 2029.52,53 Grob builds airframes (Reported).54
Video: “CA-1 Europa: Autonomous Air Dominance”, Helsing (official Helsing YouTube channel), 25 Sep 2025, 1:01. Credit: Helsing.
Build diary Ep.1 (German):
Video: “Building: The CA-1 Europa (AI Fighter Jet, Ep.1)”, Helsing (official Helsing YouTube channel), 31 Aug 2026, 3:59. Credit: Helsing. German-language.
CA-1EA
With Hensoldt jammers; aimed at 2031.52,53
Centaur
Flew Saab Gripen E on 28 May and 3 Jun 2025 with safety pilot (Confirmed, Saab).25
Third-party video
Video: “Saab and Helsing achieve breakthrough in AI integration with Gripen E flight test”, update defense (third-party upload on the update defense YouTube channel, not by Helsing), 11 Jun 2025. Credit: update defense. Not an official Helsing upload.
Cirra
In Saab Arexis for 15 German Eurofighters; ~3 years integration; Helsing share n/p.43,55
Video: “Helsing Cirra : AI For Electronic Warfare”, Helsing (official Helsing YouTube channel), 22 Jan 2026, 1:12. Credit: Helsing.
Contra, AD-1 Inferno, AD-2 Ambush
Unveiled 26 Oct 2026. AD-1 jet interceptor reported 700+ km/h; AD-2 rocket Mach 2–2.5, 20+ km.56,57 Press: under €100k; none before Q2 2027 (Reported).58
Video: “Introducing: Contra, AD-1 & AD-2”, Helsing (official Helsing YouTube channel), 26 Oct 2026, 0:15. Credit: Helsing.
History, funding and contracts — filter by year
Interactive spine for company history, funding rounds and key contracts. Amounts the company stated are Confirmed; most mid-round valuations are Reported.
First Resilience Factory. Option funding later questioned.5,61
Grob acquisition; Centaur on Gripen E; Series D €600M.54,25,14
Bloomberg cites critical presentation; Helsing disputes.62,63
Funding rounds — detail
| Round | Date | Amount | Lead | Valuation | Label |
|---|---|---|---|---|---|
| Seed | Spring 2021 | €8.5M | not stated | n/p | Amount Confirmed |
| Series A | 9 Nov 2021 | €102.5M | Prima Materia | north of €400M (TC) | Reported |
| Series B | 14 Sep 2023 | €209M | General Catalyst | ≈€1.5–1.7B press | Amount Confirmed |
| Series C | 11 Jul 2024 | €450M | General Catalyst | ≈€4.95B Bloomberg | Amount Confirmed |
| Series D | 17 Jun 2025 | €600M | Prima Materia | ≈€12B press | Amount Confirmed |
| Series E | 13 Jul 2026 | $1.8B | Dragoneer (Reported) | $18B | Amount+val Confirmed; lead Reported |
Sum through D incl. seed: €1,369.5M (our arithmetic). Group revenue not published. Helsing GmbH 2024 €26.9M is one entity (Reported).69
Contracts — who bought what
| Counterparty | Product | Quantity / value | Label |
|---|---|---|---|
| Germany BAAINBw | HX-2 frameworks | First call-off 4,300 ≈€270M8,9 | Confirmed |
| Germany CFSN | Mission system + test UCAVs | Planned €580M; >€220M first step65,10 | Reported |
| Germany via Saab | Cirra / AI on 15 Eurofighters | Saab orders €291M + €258M; Helsing share n/p55,43 | Confirmed |
| Ukraine (DE funding) | HF-1, HX-2 | 4,000 HF-1; 6,000 HX-2 announced5,7 | Mixed |
| UK MoD / RN | SG-1, Lura | £350M pledge; demo Dec 2025; no order49,50,70 | Confirmed (pledge) |
| Estonia MoD | Helsing Estonia OÜ | €70M over 3 years59,71 | Confirmed (pledge) |
| United States | Martinsburg plant | $50M plant; Flytrap 15/1767,18 | Confirmed (plant) |
Software-defined defence — what Helsing says it builds
Helsing presents itself as an AI software company that wraps hardware around a common autonomy stack.24,44 Public stack we can document:
Lura
Underwater acoustic AI paired with SG-1 Fathom.48
Company / executive framing (not independently audited): autonomy that keeps working when GNSS or datalinks are jammed; updatable software across air/EW/undersea; “autonomous mass” (Reported).28,1 Reil has argued for a human in the loop on life-and-death decisions while Europe scales autonomy (Reported).28,40
What we do not claim: model architectures, parameter counts, training-data sources, or proprietary fusion algorithms. Helsing has not published those. Battlefield software praise and hardware criticism stay in Evidence.7
Media library — production, arsenal, workshop, film stills
Stills from official @HelsingAI clips in this package and the Behind Robotics company-film cut. Unaltered frames (Helsing media-kit clause). Altra card uses helsing.ai warehouse production stills; HF-1 still placeholder; no invented Ukraine combat footage.
Company film · opening still
Plays the Behind Robotics company film (~88 s). Credit: Behind Robotics cut from official Helsing footage. Helsing media kit: credit required; remain unaltered. UI chrome only.
Company film · mid still
Plays the Behind Robotics company film (~88 s). Credit: Behind Robotics cut from official Helsing footage. Helsing media kit: credit required; remain unaltered. UI chrome only.
Company film · closing still
Plays the Behind Robotics company film (~88 s). Credit: Behind Robotics cut from official Helsing footage. Helsing media kit: credit required; remain unaltered. UI chrome only.
Company film · thumbnail
Plays the Behind Robotics company film (~88 s). Credit: Behind Robotics. Helsing media kit: credit required; remain unaltered. UI chrome only.
HX-2 · hero (media kit)

Source: Photo: Helsing / helsing.ai media kit (hx-2-media-assets.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
CA-1 Europa
Source: Official Helsing YouTube zzg65k6WONY. Helsing media kit: credit required; remain unaltered. UI chrome only.
Contra / AD-1 / AD-2
Source: Official Helsing YouTube EDCkwwUHIlM. Helsing media kit: credit required; remain unaltered. UI chrome only.
Cirra electronic warfare
Source: Official Helsing YouTube OPK5URcHDHo. Helsing media kit: credit required; remain unaltered. UI chrome only.
CA-1 Europa · build diary
Source: Official Helsing YouTube gJcO-7J6ztM. Helsing media kit: credit required; remain unaltered. UI chrome only.
CA-1 Europa production / workshop (1)
Source: Official Helsing YouTube gJcO-7J6ztM. Helsing media kit: credit required; remain unaltered. UI chrome only.
CA-1 Europa production / workshop (2)
Source: Official Helsing YouTube gJcO-7J6ztM. Helsing media kit: credit required; remain unaltered. UI chrome only.
CA-1 Europa production / workshop (3)
Source: Official Helsing YouTube gJcO-7J6ztM. Helsing media kit: credit required; remain unaltered. UI chrome only.
CA-1 Europa production / workshop (4)
Source: Official Helsing YouTube gJcO-7J6ztM. Helsing media kit: credit required; remain unaltered. UI chrome only.
HX-2 production / field (1)
Source: Official Helsing YouTube BZC8XuRqDHQ. Helsing media kit: credit required; remain unaltered. UI chrome only.
HX-2 production / field (2)
Source: Official Helsing YouTube BZC8XuRqDHQ. Helsing media kit: credit required; remain unaltered. UI chrome only.
HX-2 production / field (3)
Source: Official Helsing YouTube BZC8XuRqDHQ. Helsing media kit: credit required; remain unaltered. UI chrome only.
Cirra / EW software views (1)
Source: Official Helsing YouTube OPK5URcHDHo. Helsing media kit: credit required; remain unaltered. UI chrome only.
Cirra / EW software views (2)
Source: Official Helsing YouTube OPK5URcHDHo. Helsing media kit: credit required; remain unaltered. UI chrome only.
CA-1 Europa arsenal views (1)
Source: Official Helsing YouTube zzg65k6WONY. Helsing media kit: credit required; remain unaltered. UI chrome only.
CA-1 Europa arsenal views (2)
Source: Official Helsing YouTube zzg65k6WONY. Helsing media kit: credit required; remain unaltered. UI chrome only.
Contra interceptor views (1)
Source: Official Helsing YouTube EDCkwwUHIlM. Helsing media kit: credit required; remain unaltered. UI chrome only.
Contra interceptor views (2)
Source: Official Helsing YouTube EDCkwwUHIlM. Helsing media kit: credit required; remain unaltered. UI chrome only.
HX-2 · press / hero kit

Source: Photo: Helsing / helsing.ai media kit (hx-2-media-assets.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
HX-2 · test / lab kit

Source: Photo: Helsing / helsing.ai media kit (hx-2-media-assets.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
SG-1 Fathom · Helsing still

Source: Photo: Helsing / helsing.ai media kit (sg-1-lura.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
SG-1 Fathom · trials

Source: Photo: Helsing / helsing.ai media kit (sg-1-lura.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
SG-1 Fathom · underwater

Source: Photo: Helsing / helsing.ai media kit (sg-1-lura.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
Founders group · Scherf, Reil, Köhler

Source: Photo: Helsing / helsing.ai media kit (people.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
Altra · field / warehouse rows

Source: Photo: Helsing / helsing.ai media kit (altra.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
Altra · innovation / production

Source: Photo: Helsing / helsing.ai media kit (altra.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
Altra · field still

Source: Photo: Helsing / helsing.ai media kit (altra.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
HX-2 with Altra · official kit

Source: Photo: Helsing / helsing.ai media kit (altra.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
HX-2 with Altra · kit

Source: Photo: Helsing / helsing.ai media kit (hx-2 / altra). Helsing media kit: credit required; remain unaltered. UI chrome only.
SG-1 Fathom + Lura · media kit (1)

Source: Photo: Helsing / helsing.ai media kit (sg-1-lura.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
SG-1 Fathom + Lura · media kit (2)

Source: Photo: Helsing / helsing.ai media kit (sg-1-lura.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
SG-1 Fathom + Lura · media kit (3)

Source: Photo: Helsing / helsing.ai media kit (sg-1-lura.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
SG-1 Fathom + Lura · media kit (4)

Source: Photo: Helsing / helsing.ai media kit (sg-1-lura.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
SG-1 Fathom + Lura · media kit (5)

Source: Photo: Helsing / helsing.ai media kit (sg-1-lura.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
SG-1 Fathom + Lura · media kit (6)

Source: Photo: Helsing / helsing.ai media kit (sg-1-lura.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
Founders group · media kit (1)

Source: Photo: Helsing / helsing.ai media kit (people.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
Founders group · media kit (2)

Source: Photo: Helsing / helsing.ai media kit (people.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
Founders group · media kit (3)

Source: Photo: Helsing / helsing.ai media kit (people.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
HX-2 · hero

Source: Photo: Helsing / helsing.ai media kit (hx-2-media-assets.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
HX-2 · product still

Source: Photo: Helsing / helsing.ai media kit (hx-2-media-assets.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
HX-2 · in flight

Source: Photo: Helsing / helsing.ai media kit (hx-2-media-assets.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
HX-2 · in flight (2)

Source: Photo: Helsing / helsing.ai media kit (hx-2-media-assets.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
HX-2 · launch

Source: Photo: Helsing / helsing.ai media kit (hx-2-media-assets.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
HX-2 · ILA 2026

Source: Photo: Helsing / helsing.ai media kit (hx-2-media-assets.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
HX-2 · test

Source: Photo: Helsing / helsing.ai media kit (hx-2-media-assets.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
HX-2 with Altra · kit

Source: Photo: Helsing / helsing.ai media kit (hx-2-media-assets.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
HX-2 · crates / warehouse

Source: Photo: Helsing / helsing.ai media kit (hx-2-media-assets.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
HX-2 · factory work

Source: Photo: Helsing / helsing.ai media kit (hx-2-media-assets.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
Resilience Factories Germany · (1)

Source: Photo: Helsing / helsing.ai media kit (resilience-factories-germany.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
Resilience Factories Germany · (2)

Source: Photo: Helsing / helsing.ai media kit (resilience-factories-germany.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
Resilience Factories Germany · (3)

Source: Photo: Helsing / helsing.ai media kit (resilience-factories-germany.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
Resilience Factories Germany · (4)

Source: Photo: Helsing / helsing.ai media kit (resilience-factories-germany.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
Resilience Factories Germany · (5)

Source: Photo: Helsing / helsing.ai media kit (resilience-factories-germany.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
Resilience Factories Germany · (6)

Source: Photo: Helsing / helsing.ai media kit (resilience-factories-germany.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
Resilience Factories Germany · (7)

Source: Photo: Helsing / helsing.ai media kit (resilience-factories-germany.zip). Helsing media kit: credit required; remain unaltered. UI chrome only.
Confirmed sites on an OSM basemap
Pins only for locations we can document. Approximate coordinates for Web-Mercator overlay on the basemap — not surveyed GIS.

Basemap: OpenStreetMap standard tiles, darkened locally · Map data © OpenStreetMap contributors (ODbL)
Tussenhausen-Mattsies Confirmed
Grob Aircraft SE HQ · Lettenbachstrasse 9 · Helsing subsidiary (Jun 2025)54,72
Plymouth Confirmed
UK factory opened 19 Nov 202549
Grob street HQ is Confirmed on the company contact page (Tussenhausen-Mattsies).72,54 Berlin appears in Scherf's career, not as a documented Helsing HQ.
Both stories are partly true
| Source | Finding | Label |
|---|---|---|
| Helsing trials 2026 | 39 of 41 successful strikes (≈95%)17 | Company claim |
| US Army Flytrap 5.0 | 15 of 17 launches hit (88%)18,74 | Reported |
| Politico 29 Jan 2026 | 5 of 14 hits in Ukrainian use (36%)19 | Reported |
| WELT on HF-1 | Early problems; later ~40% hits/near-hits; Altra solid7 | Reported / Disputed |
| Bloomberg 19 Jan 2026 | 25% launch success in one trial; Kyiv held off62,63 | Reported / Disputed |
Not a failed drone (Ukraine kept flying; Berlin ordered 4,300) and not uncontested. Early HF-1 had hardware problems; HX-2 combat record still being written.8,75,7
Same playbook, different distance travelled
Peers: Quantum Systems ~$8B; Stark €3.2–3.5B. Berlin split first loitering award with Stark.76,77,9
What would change our mind
- Qualification of HX-2 — no public result yet.8,17
- Ukraine 6,000 option funding and independent rates.6,62
- Group revenue — the missing $18B denominator.69
- Customer concentration on Germany.8
- Platform sprawl across drones, gliders, UCAV, EW, air defence.52,58
- Politics / revolving door — context, not a finding of wrongdoing.37,78
Editorial analysis, not investment advice. Interactive redesign 2026-10-28 — local draft only. Behind Robotics received no payment from any company named here.
Sources
- Helsing, 'Helsing raises US$1.8bn in Series E' (13 Jul 2026) · company release; helsing.ai blocks plain fetches (HTTP 429), read in full in a headless browser. Lists participants without naming a lead
- Defense News, 'Helsing raises $1.8 billion in Europe's biggest defense-startup round' (13 Jul 2026)
- Gundbert Scherf, LinkedIn profile · self-reported profile; read via search snippet
- Capital, 'Gundbert Scherf, der Umrüster' · page fetch returned empty; read via search snippet
- Helsing, 'Helsing to produce 6,000 additional strike drones for Ukraine' (13 Feb 2025) · company release; read in a headless browser
- Defense Express, 'Uncertainty surrounds whether Germany ever funded HX-2 drones for Ukraine' (Nov 2025) · read via search snippet
- WELT am Sonntag, 'Die ukrainische Enttäuschung mit der deutschen Wunderdrohne' (28 Jan 2026) · fetched in full
- ESUT, 'Loitering Munition: Beschaffung von mehr als 6.000 Kampfdrohnen gebilligt' (26 Feb 2026) · fetched; budget committee approval 25 Feb 2026, two frameworks, sets of 50 aircraft with a ground station
- ESUT / Mittler Report, 'Vertraege zur Beschaffung von Loitering Munition Systemen geschlossen' (5 Mar 2026), citing BAAINBw · fetched in full
- hartpunkt, 'Bundeswehr: Helsing soll Missionssystem fuer Drohnen und Drohnenschwaerme entwickeln' (Jul 2026) · fetched; budget committee 8 Jul 2026, just over EUR220M released per well-informed circles
- TechCrunch, 'Daniel Ek puts EUR100M into defence startup Helsing.ai' (9 Nov 2021)
- Helsing, 'Helsing raises EUR209m Series B' (Sep 2023) · company release; read in full in a headless browser
- Helsing, 'Helsing further strengthens European defence capabilities with funding round' (Jul 2024) · company release; read in full in a headless browser
- Helsing, 'Helsing raises EUR600m to invest in European technological sovereignty' (17 Jun 2025) · company release; read in full in a headless browser
- Zynga, Form 8-K and Ex. 99.1 on the NaturalMotion acquisition (30 Jan 2014) · SEC filing; read via search snippet
- Niklas Köhler, LinkedIn profile · self-reported profile; read via search snippet
- ESUT, 'Helsing meldet 95 Prozent Erfolgsquote bei HX-2-Erprobungen' (12 Oct 2026) · fetched in full; the figures are Helsing's, and ESUT notes it has no independent confirmation
- Axios, 'U.S. troops test German-made Helsing attack drones in Europe' (9 Jun 2026) · read via search snippet
- Politico Europe, 'Ukrainian battlefield data undercuts Germany's big drone bet' (29 Jan 2026) · fetched in full
- Helsing, 'Statement from Helsing' (19 Jan 2026) · company statement; read via search snippet and via Defense Post/CISES quotes
- TechCrunch, 'Anduril raises $5B, doubles valuation to $61B' (13 May 2026) · fetched in full; also reports Shield AI $12.7B (Mar 2026) and >$11B Anduril total raised
- Anduril, 'Anduril Announces $5B Series H Raise' (13 May 2026) · company release; direct fetch timed out, read via search snippet; 2025 revenue $2.2B per CEO post (as quoted by TechCrunch)
- Raue, 'Raue advises Prima Materia on its investment in Helsing' (27 Jan 2022) · law-firm announcement; fetched in full. Gives founding date (beginning of 2021), the EUR8.5M seed and the EUR100M Prima Materia investment
- Helsing, company page (founders, leadership) · company page; read in a headless browser
- Saab, 'Saab achieves AI milestone with Gripen E' (11 Jun 2025) · read via search snippet
- Helsing, 'Tom Enders joins Helsing board of directors' (29 Mar 2022) · company release; read in a headless browser
- Torsten Reil, LinkedIn profile · self-reported profile; read via search snippet
- David Senra, 'Founders' podcast episode with Torsten Reil (26 Aug 2026) · episode page and summary; the audio was not listened to by us
- European Security & Defence, 'Helsing officially unveils HX-2 Karma' (Dec 2024) · fetched; captions credit Photo: Helsing; founders L→R Scherf, Reil, Köhler
- PocketGamer.biz, 'Hall of Fame: NaturalMotion's Torsten Reil' (interview) · interview; read via search snippet
- University of Oxford, 'Oxford digital spin-out completes $500m sale' (12 Feb 2014) · university release; read via search snippet
- TechCrunch, 'Zynga buys NaturalMotion for $527M' (30 Jan 2014) · read via search snippet
- Forbes profiles: Reil, Scherf, Köhler (27 Oct 2026) · Forbes real-time net-worth estimates; fetched; the Köhler page contains a visible data error, so we use only the shared net-worth figure
- Unternehmertag, speaker profile Dr. Gundbert Scherf · event biography (self-supplied); read via search snippet
- Deutscher Bundestag, Untersuchungsausschuss (Berateraffäre) hearing, 7 Nov 2019 · parliament page; read via search snippet
- Lobbyregister des Deutschen Bundestages, entry 'Helsing SE' R007552 · official register; read via search snippet (lists Scherf as lobbyist, registered from Aug 2025)
- LobbyPedia (LobbyControl), Helsing and Gundbert Scherf entries · civil-society wiki that cites ZEIT, Spiegel and government answers; used as a pointer, each item labelled Reported; fetched
- Equilar ExecAtlas, Niklas Köhler executive bio · company-written biography as reproduced by Equilar; read via search snippet
- North Data, Hellsicht GmbH register entry (Munich, HRB 229885) · register aggregator; fetched. Shows managing directors Philipp Eulenberg and Niklas Köhler, registered Dec 2016; the entity now appears as Helsing Germany GmbH
- WIRED, 'A Battlefield AI Company Says It's One of the Good Guys' (2023) · read via search snippet
- General Catalyst, 'Our investment in Helsing' · investor post; fetched in full
- Saab, 'Saab signs strategic cooperation agreement and makes investment in Helsing' (14 Sep 2023) · fetched in full
- Saab, 'Saab receives orders for Arexis system for German Eurofighter' (14 Nov 2025) · fetched in full
- AIN.ua, interview with Helsing's Ukraine managing director Andrii Shevchenko (5 Aug 2026) · company executive interview; fetched in full
- Lima Groupe, 'Helsing, the defence start-up valued at 18 billion dollars' (12 Sep 2026) · secondary aggregator; used for figures that cite Reuters/Bloomberg/company; cross-checked where possible
- GAU (Ukraine), 'German loitering munition for the Ukrainian defence' (11 Apr 2025) · read via search snippet
- Militarnyi, summary of Bloomberg's April 2025 report on criticism of Helsing drones (overpriced, announced contracts prematurely) · secondary summary; Bloomberg itself paywalled (HTTP 403)
- Helsing, 'Helsing unveils Lura and SG-1 Fathom' (May 2025) · company release; read via search snippet
- BBC News, 'Factory could help defend UK - cabinet minister' (20 Nov 2025) · fetched in full
- UK Defence Journal, 'Royal Navy will trial SG-1 drone subs under Atlantic Bastion' (2 Dec 2025) · fetched in full
- Defence Eye, 'Atlantic Net goes to Ocean Infinity' (24 Sep 2026) · read via search snippet
- Helsing, 'Helsing Introduces the CA-1 Electronic Attack' (Jun 2026) · company release; read via search snippet
- Aviation Week, 'Helsing Targets Electronic Attack Europa CCA For 2031' · read via search snippet
- Grob Aircraft, 'Helsing acquires Grob' (4 Jun 2025) · read via search snippet; price not disclosed
- Helsing, 'Helsing AI selected for Eurofighter upgrade' (2023) · company release; read in a headless browser
- Helsing, 'Helsing unveils Contra ... AD-1 Inferno and AD-2 Ambush' (26 Oct 2026) · company release; read via search snippet
- Defense News, 'Helsing unveils interceptor missiles designed to chase Russia's fast-flying Geran drones' (26 Oct 2026) · read via search snippet
- DroneXL, 'Helsing Prices Jet-Drone Interceptors Under EUR100,000, None Before 2027' (26 Oct 2026) · read via search snippet; price is press-reported
- Helsing, 'Helsing and Prime Minister Kaja Kallas announce Helsing Estonia at NATO summit' (11 Jul 2024) · company release; read in a headless browser
- Bloomberg, 'Defense Startup Helsing Nets EUR5 Billion Valuation' (11 Jul 2024) · paywalled; read via search snippet (EUR4.95bn)
- TechCrunch, 'Germany's Helsing doubles down on drones for Ukraine, scales up manufacturing' (13 Feb 2025) · read via search snippet
- Bloomberg, 'Ukraine holds off on new Helsing drone orders after setbacks' (19 Jan 2026) · paywalled; content taken from Defense Post, CISES and Lima summaries
- The Defense Post, 'Helsing Disputes Reports Ukraine Paused HX-2 Drone Orders' (23 Jan 2026) · fetched in full
- ESUT, 'Helsing und Culver Aerospace: Gemeinsame Drohnenproduktion' (16 Apr 2026) · fetched; agreement of 14 Apr 2026, production in Germany for Ukraine
- POLITICO, 'Germany bets on EUR580M software after fighter jet split with France' (25 Jun 2026) · fetched; planned cost-reimbursement contract
- The Next Web, 'Helsing raises $1.8bn at an $18bn valuation, and its cap table tells a story' (Jul 2026) · source for the report that Dragoneer led and Lightspeed co-led; read via search snippet
- WV MetroNews, 'Helsing plans call for rapid, significant drone production at announced Martinsburg facility' (20 Jul 2026) · fetched in full
- Destinus, 'Helsing and Destinus establish a commercial partnership' (20 Oct 2026) · read via search snippet; no stake or amount disclosed
- FirmenData, Helsing GmbH (HRB 264368) financials from the Handelsregister / filed annual accounts · register aggregator; 2024 accounts published 12 Nov 2025; single legal entity, not group; fetched
- UK Parliament written answer, Unmanned Marine Systems: Procurement (28 Jan 2026) · fetched; no contract for the Herne vessel at that date
- Estonian Ministry of Defence, 'Estonian Ministry of Defence and Helsing OU sign joint statement on AI-driven defence cooperation' (Aug 2024) · read via search snippet; sources give 13 or 14 Aug 2024
- Grob Aircraft SE, Contact page (Lettenbachstrasse 9, 86874 Tussenhausen-Mattsies) · fetched; street HQ Confirmed for map pin
- West Virginia Governor's Office, '$50 Million Helsing Investment in Berkeley County' · read via search snippet
- U.S. Army, 'FlyTrap 5.0: Media roundtable with the 2nd Cavalry Regiment' · read via search snippet
- Janes, 'Growing Ukrainian demand for Helsing's HX-2 LT amid Starlink concerns' (Oct 2026) · paywalled; read via search snippet
- Quantum Systems, 'Series D' release (2 Jul 2026) · read via search snippet; Reuters and Bloomberg report ~$8B
- The Next Web, 'Stark Defence raises EUR500M led by Sequoia and Founders Fund' (Jun 2026) · read via search snippet; Bloomberg cites EUR3.2bn on company statement, other outlets 'above EUR3.5bn'
- The Guardian, Massive Attack and other artists remove music from Spotify over Daniel Ek's Helsing investment (2025) · read via search snippet