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;

Spotify CEO Daniel Ek’s investment firm led a $690 million round in Helsing, a leading European A.I. defense startup.

Spotify founder Daniel Ek is leading a €600mn investment in Helsing, valuing the German defence tech group at €12bn and making it one of Europe’s most valuable start-ups. The deal comes as the Munich-based start-up is expanding from its origins in artificial intelligence software to produce its own drones, aircraft and submarines.