Saab buys into unicorn AI startup
Saab has entered into a strategic partnership with AI startup Helsing with a $75m investment.
The deal with Saab values Helsing, started in 2021 and based in Berlin, Germany, at $1.5bn . The company has 220 staff in offices in Germany, the United Kingdom and France.
The cooperation agreement will see Saab use Helsing’s AI capabilities across its defence systems, which range from drones through the acquisition of Blue Bear in the UK to the underwater craft that located the Endurance in the Antarctic earlier this year.
The cooperation will start with electronic warfare and surveillance capabilities for the Eurofighter aircraft and Saab’s own Gruppen, as well as other sensors and command and control applications in land, air, sea and space systems. A consortium with Helsing has won the contract to provide the AI backbone for the successor Future Combat Air System (FCAS) programme.
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“The investment in Helsing marks another milestone in Saab’s commitment to further bolster our capabilities and continuously improve our portfolio to meet the evolving needs of our customers. Together with the recent acquisitions of BlueBear in the United Kingdom and CrowdAI in the US, it also supports our international growth strategy as we seek to ensure Saab is well positioned in strategic markets,” said Micael Johansson, President and CEO of Saab (above).
“We founded Helsing because we believe that AI will be essential for democracies to continue to defend their values. To serve that mission, we are committed to deep partnerships with established defence companies, combining their exquisite platforms with our cutting-edge software and AI. Saab as a renowned European all-domain defence company is an ideal partner for our advanced software and AI solutions. In today’s challenging threat landscape, it’s ambitious partnerships like these that lead the way,” says Dr Gundbert Scherf, co-CEO and co-founder of Helsing.
Saab’s investment is part of Helsing’s recent $223m funding round, led by venture capital firm General Catalyst. The company has raised $323m so far and includes Daniel Ek, the co-founder of Spotify as an investor and co-chairman.
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