Physical AI and Defence Tech Draw Fresh Capital Across US and Europe

Europe's Defence AI Sector Attracts Major Backing

In Germany, Munich-based Helsing raised $1.8 billion in a Series E round, positioning it among Europe's most valuable defence firms with a valuation of $18 billion, Ventureburn reports. The round was led by Dragoneer Investment Group, with Lightspeed Venture Partners as co-lead. New investors included Disruptive, ICONIQ, Goldman Sachs Alternatives, JPMorgan Chase, CPP Investments, General Catalyst, Plural, and StepStone, alongside existing backers Prima Materia, Accel, and Greenoaks.

The financing follows a $600 million Series D in 2025. Helsing designs AI-driven platforms for military applications, including underwater surveillance capabilities and systems intended to sense and detect threats and support personnel in demanding operational conditions. According to Ventureburn, the company plans to use the funds to build and integrate next-generation AI platforms into offerings for its growing network of partner countries. The report links the strong investor interest to rising demand for AI-based defence technology.

Construction Tech Rounds Out the Picture

Smaller but notable, Austria's Sodex Innovations, based in Vorarlberg, secured €4 million to scale its automated surveying and documentation of construction sites, infrastructure projects, and mines, EU-Startups reports. The round was led by Capmont Technology, with participation from Bloomhaus, Look AI Ventures, and German business angel group Superangels, plus returning investors SOSV, OMA, and 12 Rounds Capital.

CEO and co-founder Ralf Pfefferkorn said real-time updates from construction sites have become indispensable for many customers, and that the funding will let the company expand its team and portfolio while scaling internationally, according to EU-Startups. The outlet notes the round sits within roughly €60 million in disclosed 2026 funding it has tracked across construction software and related industrial systems.