Helsing Joins Destinus Funding Round at a Reported €6 Billion Valuation
Europe's most valuable defense startup is buying into the Dutch maker of the Ruta cruise missile, and Bloomberg puts its minority stake at a roughly €6 billion valuation.
Europe's most valuable defense startup is buying into the Dutch maker of the Ruta cruise missile, and Bloomberg puts its minority stake at a roughly €6 billion valuation.
Helsing will participate in Destinus' latest funding round under a commercial partnership the two companies announced Oct. 20, Helsing said. Helsing is in advanced talks for a minority stake in a round that values Destinus at around €6 billion ($6.7 billion), Bloomberg reported, citing people familiar with the matter.
Frequently Asked Questions
What did Helsing and Destinus announce?
On Oct. 20 the two companies agreed a commercial partnership to offer joint solutions to NATO and allied armed forces, and said Helsing will take part in Destinus' latest funding round alongside other investors.
How much is Helsing investing?
Neither company has disclosed the amount. Bloomberg reported, citing people familiar with the matter, that Helsing is negotiating a minority stake in a round that values Destinus at about €6 billion ($6.7 billion), and that no final decision has been made.
What does Destinus make?
Destinus builds the Ruta cruise missile, which The Next Web reported has been used by Ukrainian forces since 2023, along with interceptor and strike drones. The Ruta Block2 carries a 250-kilogram payload up to 450 kilometers, per the same report.
What is Perciv AI?
A Delft-based developer of AI radar perception software that detects and tracks targets, including those with a low radar cross section, and supports navigation when satellite signals are degraded. Destinus said Oct. 21 it had completed the purchase; terms were not disclosed.
How has Destinus' valuation moved?
Bloomberg has reported a 2025 convertible note at a valuation above €1 billion, investor talks in May at more than €5 billion ahead of a planned IPO, and now about €6 billion.
AI-generated summary, reviewed by an editor. More on our AI guidelines.
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Marcus Schuler
Marcus Schuler edits BattlePolicy, a daily defense-technology brief connecting the companies and capabilities behind modern war to the contest among Europe, the US, Russia, and China.