The investment values the AI drone company at US$18 billion. Other participants in the round included JPMorgan Chase, Dragoneer Investment Group, Lightspeed Venture Partners, Iconiq and General Catalyst. (The Logic)

Talking point: Helsing last raised funding a year ago, in a €600-million deal led by Spotify founder Daniel Ek, which valued the company at about US$14 billion. The latest deal is the Canada Pension Plan Investment Board’s first investment in Helsing. CPP Investments CEO John Graham said in April that the $780-billion pension fund was looking to invest more in the defence sector, as governments around the world, including in Canada, ramp up spending in the industry. Helsing said in a press release Monday that “investor demand significantly exceeded the available allocation, reflecting strong and growing confidence in AI-driven and software-defined defence technology.”