Helsing Leads Germany’s Unicorn Index with €16.6 bn Valuation

Munich‑based Helsing, a defence‑tech company that develops artificial‑intelligence solutions for the military, was valued at €16.6 billion in the 2026 Hurun Germany Unicorn Index, making it the first AI‑defence firm to top the ranking. Founded in 2021, the startup reached the top spot just five years after its creation, displacing traditional software, fintech and e‑commerce leaders.

The index shows Germany now has 38 unicorns with a combined worth of €118.9 billion, placing the country fifth worldwide. Munich hosts eight of these high‑value firms, while Berlin accounts for 18, together representing 68 % of the nation’s unicorns. Analysts note that heightened geopolitical tensions are steering venture capital toward AI‑driven defence technologies, and that many of the owners of German unicorns are foreign investors based in London, New York and Silicon Valley.