Military Tech Companies, Long Snubbed in Europe, Are Having a Moment
LONDON—When Spotify founder Daniel Ek in 2021 announced he was investing more than $100 million in European defense-tech startup Helsing, musicians and streamers across the continent slammed the Swedish entrepreneur as a warmonger. People on social media called for Spotify boycotts.
Today, Ek is one among dozens of European tech entrepreneurs who cut their teeth in peaceful commercial ventures and are now developing or funding military systems. Russia’s invasion of Ukraine, tense U.S.-Europe relations and growing concerns about China have jolted many who until recently couldn’t imagine working on combat or security projects.
“Investing in defense was worse than porn sites,” said Karl Rosander, a serial entrepreneur from Sweden who spent 27 years creating e-commerce and podcast startups before last year taking control of a company building inexpensive drone interceptors, Nordic Air Defence.