Helsing’s $1.8B round tops a busy week for European tech deals

European technology companies raised more than €2.7 billion across more than 55 funding deals this week, according to Tech.eu, with defense AI company Helsing accounting for the largest disclosed round: a $1.8 billion Series E at an $18 billion valuation. The week’s M&A tape was also active, led by Uber’s planned €13 billion acquisition of Delivery Hero, a deal Tech.eu said would create a platform operating across 99 countries.

Helsing’s financing keeps defense technology near the top of Europe’s venture agenda. The company was described by Tech.eu as a European defense AI leader, and its new valuation puts it among the most valuable private technology companies in the region. The report did not disclose revenue, headcount, investors in the round or the structure of the financing.

The second-largest disclosed financing was Neko Health’s $700 million raise. Tech.eu linked the round to growing demand for preventive health scans. SWISSto12, a Swiss company, raised a $70 million Series C to scale its multi-orbit business. Those three deals represented the most visible checks in a week where capital remained concentrated in sectors with government, health or infrastructure exposure.

Acquisitions signal consolidation

Uber’s planned purchase of Delivery Hero was the largest disclosed transaction in the week’s European technology deal flow. At €13 billion, the deal would combine two major delivery and mobility operators, though Tech.eu’s summary did not include closing timing, regulatory status or financing terms.

SAP also acquired Prior Labs in a deal valued at more than €1 billion, according to Tech.eu. Prior Labs launched 18 months before the transaction, making the acquisition notable for its speed as well as its price. The report did not state whether the consideration was cash, stock or a mix.

Other disclosed transactions included Omio Group’s planned acquisition of Rail Europe, described as part of an effort to build a global rail travel company, and the acquisition of Salzburg-based energytech company FlexPowerHub by Norway’s Volue. Values were not provided for those two deals.

Fund managers raise and deploy capital

Investor activity included Acurio Ventures launching a €115 million fund aimed at liquidity in Europe’s venture secondary market. That is a relevant signal for founders, employees and early investors facing longer holding periods, although Tech.eu did not provide details on target company stages or expected check sizes.

Norrsken Evolve established a presence in Amsterdam after closing a €62 million fund. The British Business Bank made a €25 million commitment to EQT Life Sciences. SuperCharger Ventures also launched its first fund to back global edtech and future-of-work startups, with no fund size disclosed in the weekly summary.

Other company moves

Revolut plans to launch a U.S. bank in 2027, according to comments from its U.S. boss reported by Tech.eu. The report did not include details on charter status, product scope or expected capital commitments.

Finland cleared Bliq.ai for driverless vehicle operations. Antler reported that founders coming out of scaling startups are creating Europe’s most successful founder base. Separately, five startups formed a coalition to push for small air-quality sensors to be included in European Union clean-air policy.

Smaller disclosed rounds included Nous raising more than €2.3 million in seed funding to scale Koncentra, Arq securing a $1.4 million pre-seed round for quantum internet technology, Doctorsa raising €1 million for a telemedicine platform for travellers, HTG Medical raising €450,000 while securing MDR certification for ICU urine monitoring, and RAROG securing €162,000 for rescue-beacon technology using everyday devices.

This story draws on original reporting from Tech.eu.