Defence tech unicorn Helsing — which raised a whopping €600m in June at a €12bn valuation — has swiftly become one of Europe's most intriguing and closely-watched startups. 

Defence is top of the agenda for many policymakers and investors at the moment, and four-year-old Helsing has been crowned the poster child for the rising European defence tech wave. 

But, despite all that, the Munich-based company is remarkably secret about what it actually does. 

On this episode of the Sifted podcast, defence tech and VC reporter Anne Sraders and editor Amy Lewin share what they know of the rather mysterious company's products and clients, what murmurings they've heard from defence experts and investors and discuss what they think Helsing will do with all that money in the bank.

Key moments: 

00:00: Intro to Helsing
02:47: What does Helsing actually do?
06:02: Shifting attitudes to defence tech
08:49: Challenges and criticisms facing Helsing
12:06: What will Helsing do with €600m?