Two of three European defence “unicorns” are German
Government more supportive of defence startups, CEOs say
Govt creating fast track to bypass procurement red tape, sources say
Smaller firms advising govt alongside Rheinmetall, source says
By Supantha Mukherjee, Sarah Marsh and Christoph Steitz
MUNICH/BERLIN/FRANKFURT, July 23 (Reuters) – For Gundbert Scherf – the co-founder of Germany’s Helsing, Europe’s most valuable defence start-up – Russia’s invasion of Ukraine changed everything.
Scherf had to fight hard to attract investment after starting his company – which produces military strike drones and battlefield AI – four years ago.
Now, that’s the least of his problems. The Munich-based company more than doubled its valuation to $12 billion at a fundraising last month.
“Europe this year, for the first time in decades, is spending more on defense technology acquisition than the U.S.,” said Scherf.
The former partner at McKinsey &…
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