Estonian venture fund Plural invests in German startup Helsing

The Estonian venture fund Plural participated in the financing round of the German defense startup Helsing in the amount of €600M. Other investors of the company are Prima Materia, Lightspeed Ventures, Accel and General Catalyst.

Helsing is a company that specializes in artificial intelligence–based solutions for military purposes. The company's product line includes autonomous surveillance systems, decision support platforms, various drones and unmanned systems. Helsing was founded in Munich in 2021 by Gunnbert Scherf, Niklas Koehler and Thorsten Reil. The company operates throughout Europe, and since 2024 it has also entered the Estonian market.

Founded in 2022 by Estonian entrepreneurs Sten Tamkivi, Taavet Hinrikus, Ian Hogarth, and Khaled Helioui, Plural focuses on leading early-stage rounds between €1M and €10M. In 2023, a new partner, AI-driven biotech HelixNano founder, and VC investor Carina Namih joined Plural. The fund has its own rule that requires all of Plural's partners to make personal co-investments in the deals they lead.

Prima Materia is a European venture capital fund, headquartered in Stockholm. Prima Materia invests in early-stage and growth-stage companies, including in the manufacturing, climate technology, artificial intelligence, medical technology, and gaming sectors. The company was founded in 2021 by Daniel Ek of Spotify, who is also chairman of the Helsing board of directors.

Lightspeed Venture Partners is a venture capital fund that invests in technology startups around the world. Founded in the USA in 2000 by Barry Egger, Chris Schmidt, Jeremy Lo and Peter Nyberg.

Accel (formerly known as Accel Partners) is a venture capital firm that works with startups at early and late stages of development. The company focuses on investments in enterprises, SaaS and consumer companies. Accel was founded in 1983 by Arthur Patterson and Jim Schwartz in the USA.

General Catalyst is a venture capital fund founded in the USA in 2000 with the aim of supporting innovative startups and companies that can change their industries.