Baker McKenzie advises Saab on a further investment into Helsing

Baker McKenzie has again advised Saab on all legal aspects of a further investment into Helsing, a defence company specializing in AI-based software technologies. 

Saab’s investment is part of a Series C financing round in a total amount of €450 million led by General Catalyst, and with further participation from Elad Gil, Accel, Lightspeed, Plural and Greenoaks. The funds will be used for product development and R&D; a particular focus will be on capabilities to secure European sovereignty including protecting the NATO Eastern Flank. The financing round is subject to government approval.

“Through this further investment, our client Saab will continue to strengthen its relationship with Helsing. Our team was able to contribute to this benefit by seamlessly advising on all legal matter in the process,” commented Ulrich Weidemann (PICTURED), who led the transaction.

Saab is a leading defence and security company with an enduring mission, to help nations keep their people and society safe. Empowered by its 22,000 talented people, Saab constantly pushes the boundaries of technology to create a safer and more sustainable world. Saab designs, manufactures and maintains advanced systems in aeronautics, weapons, command and control, sensors and underwater systems. Saab is headquartered in Sweden. It has major operations all over the world and is part of the domestic defence capability of several nations.

Helsing develops AI-based capabilities with a software-only approach, which has led to rapid market adoption across Europe. The company has offices in Germany, the United Kingdom and France. Helsing has been active in Ukraine since 2022 and recently established the Defence Manufacturers Alliance, a joint initiative with the Ukrainian government. Since its founding in 2021, the company has secured a series of government contracts, including the German Eurofighter Electronic Warfare upgrade (with strategic investor and committed partner Saab AB), the AI infrastructure for the Future Combat Air System (FCAS, with consortium HIS), and a number of classified contracts in the maritime and land domain.

Baker McKenzie’s team: Corporate/M&A: Ulrich Weidemann (lead, counsel, Frankfurt), Felix Werner (associate, Frankfurt), Ben Boi Beetz (senior associate, Berlin). Public Law: Anahita Thoms (partner, Berlin), Alexander Ehrle (senior associate, Berlin)