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Torsten Reil, Helsing Founder: Raising $828M to Build the Defence Champion of Europe | E1237

Torsten Reil is the Co-Founder and Co-CEO of Helsing, a new type of defence company providing artificial intelligence to protect our democracies. Torsten has raised over $825M from the likes of Prima Materia, Elad Gil, Accel and General Catalyst. Previously Torsten founded NaturalMotion, one of the UK's most successful games and technology start-ups. Torsten was named as one of MIT's Top 100 Innovators and is a member of the Munich Security Conference Innovation Board. ---------------------------------------------- Timestamps: (00:00) Intro (00:53) How NaturalMotion Influenced Helsing (04:38) Hiring The Exceptional People (07:35) Structuring & Managing Small Teams Effectively (12:19) What is Helsing Speed? (17:44) On the Annexation of Crimea by Russia (21:03) How Trump’s Stances Impact European Funding Needs? (23:49) How Helsing Chooses Who to Sell To (28:30) Navigating the Transience of Right and Wrong (30:54) Why Was Now the Right Time to Shift Focus to Drones? (35:15) Does Compliance Hinder Government Drone Procurement? (38:43) What Happens If Defense Faces a 'Tesla Moment'? (39:46) Are Russia and Iran’s Capabilities Underestimated? (41:20) How Will AI & Autonomy Shape the Future of Warfare (46:40) Is Public Perception of Defense Spending Changing? (49:05) Is Defense a Standalone Category or a Broader Strategy? (51:31) Program of Record (57:24) Why Is Ambition a Bigger Problem Than Capital in Europe? (01:00:45) What Role Does US Capital Play for European Companies? (01:02:35) Is Europe Becoming Increasingly Uncompetitive? (01:05:39) What Will Happen To Russia-Ukraine & China-Taiwan (01:07:47) Relationship to Money (01:08:37) Quick-Fire Round ----------------------------------------------- In Today’s Episode with Torsten Reil We Discuss: 1. The World Around Us: China, Russia and Trump: - What will happen between China and Taiwan? - What will happen between Russia and Ukraine? - How will a Trump administration impact the US’ commitment to fund European defence? - What conflict do people not pay enough attention to in the world today? 2. Are We Ready and What Needs to Be Done: - Are the west ready to fight against our adversaries as we stand today? - What do we need to do to equip ourselves? - What needs to change in our defence budgets? Where do they need to go? - How does the procurement process for defence need to change? 3. The Future of War: - Why does Torsten believe the future of war is contactless? - In the next wave of defence, what are the most important elements for allies to own? What elements concern Torsten the most? - What role does AI and autonomous play in the future of war? 4. Is Europe F********: - Why does Torsten believe that Europe’s biggest problem is ambition not capital? - Why does Torsten believ that we put too much weight on the location in which companies are founded? Why does it not matter? - How does Torsten respond to the statement that we do not have the depth of experienced talent in Europe to recruit? ----------------------------------------------- Subscribe on Spotify: https://open.spotify.com/show/3j2KMcZTtgTNBKwtZBMHvl?si=85bc9196860e4466 Subscribe on Apple Podcasts: https://podcasts.apple.com/us/podcast/the-twenty-minute-vc-20vc-venture-capital-startup/id958230465 Follow Harry Stebbings on Twitter: https://twitter.com/HarryStebbings Follow Torsten Reil on Twitter: https://twitter.com/torstenreil Follow 20VC on Instagram: https://www.instagram.com/20vchq Follow 20VC on TikTok: https://www.tiktok.com/@20vc_tok Visit our Website: https://www.20vc.com Subscribe to our Newsletter: https://www.thetwentyminutevc.com/contact ----------------------------------------------- #20vc #harrystebbings #torstenreil #helsing #ceo #venturecapital #founder #ai #drones #defense #russianukraineconflict #chinataiwan #trump

Torsten ReilguestHarry Stebbingshost
Dec 10, 20241h 17mWatch on YouTube ↗

At a glance

WHAT IT’S REALLY ABOUT

Helsing’s Founder on AI Warfare, European Sovereignty, and Relentless Talent

  1. Torsten Reil, founder of Helsing and former founder of NaturalMotion, discusses building a European defense AI champion focused on software, autonomy, and drones amid rising geopolitical threats from Russia and China.
  2. He outlines Helsing’s operating philosophy: extreme talent density, small elite teams, aggressive performance management, and “Helsing speed” powered by substantial early capital and a willingness to blitzscale temporarily.
  3. Reil argues Europe faces a serious sovereignty and security gap, calling for higher defense spending, a mandatory 20% allocation of equipment budgets to new defense companies, and faster procurement reform to avoid a “Tesla moment” where legacy primes are disrupted by software-first players.
  4. He also dives into the ethics of autonomous weapons, the realities of war in Ukraine, the coming era of drone swarms and “precise mass,” and why founder ambition—not capital or regulation—is Europe’s real bottleneck.

IDEAS WORTH REMEMBERING

5 ideas

Optimize for extreme talent density, not headcount growth.

Reil insists that 3–4 exceptional people outperform and cost less than 8–10 good ones; Helsing relentlessly recruits top performers, pays above market, and actively manages out low performers to keep teams small, fast, and high leverage.

Make performance management a core founder job, not an HR afterthought.

Helsing runs quarterly performance calibration sessions across leaders, forces clear standards of “what good looks like,” and addresses mis-hires in the first months—avoiding the cultural drift Reil experienced at NaturalMotion.

Use blitzscaling as a temporary mode to gain strategic advantage.

Armed with an early €8.5m seed and then €100m from Daniel Ek, Helsing intentionally accepted short-term inefficiency—especially in hiring and infrastructure—to move fast, win major programs, and then normalize into a more efficient operating model.

In defense, aim for programs of record, not just innovation grants.

Reil stresses that small “innovation projects” (e.g., €500k pilots) are a trap; building a true defense prime requires the capability stack—security, compliance, export control, gov-relations—to win large, multi-year programs like the Eurofighter EW upgrade.

Software-first thinking can transform hardware categories like drones.

Helsing moved into strike drones only when it became clear no one in the West could produce cheap, scalable “precise mass”; by shifting complexity into software and using heavy simulation, they aim to simplify hardware and manufacture at large scale.

WORDS WORTH SAVING

5 quotes

Capital isn’t the problem in Europe, ambition is.

Torsten Reil

We’d rather have four exceptional people than eight good people.

Torsten Reil

There is a big wave coming towards us, and it is autonomy and software in defense, and it’s unstoppable.

Torsten Reil

The thing that we have to avoid is the Tesla moment for the defense sector.

Torsten Reil

I’m pretty sick of people just commenting… The only thing that matters is if people actually do something.

Torsten Reil

Lessons from NaturalMotion and how they shaped Helsing’s strategyHiring, talent density, performance management, and team structureBlitzscaling, fundraising, and working with Daniel Ek/Prima MateriaEuropean defense, sovereignty, and shifting geopolitical threatsEthics, export decisions, and autonomous strike dronesThe future of warfare: AI, autonomy, drones, and “precise mass”Europe’s startup ambition problem and the role of US capital

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