Daniel Ek’s departure as CEO of Spotify marked the end of an era for the music-streaming industry. His investment in Helsing, one of Europe’s most promising AI startups, could mark the beginning of another — this time for the continent’s defense sector.
The 42-year-old Swedish billionaire’s major injection of capital this summer into the German firm signaled both a personal pivot after two decades running Spotify and a broader shift in how Europe’s technology ambitions — and its military security — might be financed.
Founded in Munich in 2021 by former DeepMind and NATO engineers, Helsing develops battlefield simulation and reconnaissance software powered by AI. It is aiming to become a cornerstone of Europe’s effort to build homegrown defense tech after Russia’s invasion of Ukraine exposed the bloc’s dependence on U.S. weapons and surveillance systems.
In an interview with Mathias Döpfner, the CEO of Axel Springer (POLITICO’s parent company), Ek called venture capital a force Europe must harness to bridge the gap with the world’s superpowers and “create amazing technology and businesses in Europe.”
He’s backing that belief with serious money. In June 2025, Ek’s investment vehicle Prima Materia led a €600 million funding round in Helsing, valuing the company at roughly €12 billion. The deal — one of Europe’s largest ever in defense tech — made Helsing a symbol of the continent’s new willingness to merge private innovation with national security.
The move drew criticism from parts of the music world, alarmed by the Spotify founder’s move into the military-industrial complex. But the deal made Helsing — which Ek had already helped propel shortly after its launch in 2021 — one of Europe’s most valuable private tech firms. Now chairing Helsing’s board, Ek is overseeing its expansion into the design of drones and submarines, and its poaching of talent from legacy pan-European defense firms.
Ek frames his bet on Helsing as an investment in Europe’s technological sovereignty. “I don’t know … how the world will unfold,” he said in his interview with Döpfner. “But what we can say with great certainty … it’s very important … that we shouldn’t have to rely on anyone else to defend ourselves.”
A self-described optimist, Ek has also become a cheerleader for Europe itself. He credits the Swedish welfare state with giving him the safety net to take entrepreneurial risks and says he wants to prove that the continent can compete globally. “I’ve realized more and more … how amazing Europe is,” he said.
Check out the full POLITICO 28: Class of 2026, and read the Letter from the Editors for an explanation of the thinking behind the ranking.