Find XO: Daniel Ek-founded Defense AI Startup Helsing Secures 1.2 trillion won, Reshaping European Defense Tech Ecosystem (techcrunch.com)

- Helsing, a German defense AI company invested by Spotify founder Daniel Ek, raised approximately $900 million at a company valuation of $18 billion. - Their main focus is on airborne tactical assistance, radar signal processing, and command and control automation. - This indicates that money is flowing into the AI software layer where traditional defense giants are weak. - Still, company valuation is not equivalent to revenue. - The real challenge is whether they can secure repeat orders in government procurement beyond meeting security requirements.