Helsing has closed a $1.8bn Series E at an $18bn valuation. The round was first reported in May at $1.2bn, so it grew 50% larger without the price moving at all.

Investor demand outstripped the available allocation, Helsing says.

It’s the company’s third valuation jump in under two years: about €5B in 2024, €12B in 2025, now $18B.

Helsing’s Series E leaked in May at $1.2bn, as Tech Funding News reported at the time. By the time the Munich defence AI company confirmed the round, the check size had grown to $1.8bn, at the same $18bn valuation investors had agreed to two months earlier, as investors contributed larger amounts.

A round that increased in size