European defense tech firm Helsing's 600-million-euro funding round was led by Prima Materia, Spotify founder Daniel Ek's venture capital firm. Defense tech has become a hot area for investors lately amid major global conflicts.

Spotify founder Daniel Ek’s investment company is leading a €600mn funding round in Helsing, valuing the German defence tech group at €12bn and making it one of Europe’s most valuable start-ups.

Spotify's Daniel Ek just led a €600 million investment in Helsing, a four-year-old, Munich-based defense tech company that is now valued at €12 billion. The deal makes it one of Europe's most valuable privately held companies;