It’s not a storm — it’s the climate
It’s not a storm — it’s the climate
Sparkmind Invested EPS 6: Helsing, Nordic Compass and Einride
14 May 2026
Summary:
In this episode, Martti Wallin Christopher Lyrhem, and Colin Brown unpack three events and talk to the investor trends behind them.
Helsing’s rumoured capital raise of 1.2B at a 18B valuation from existing investors Dragoneer and Lightspeed.
The launch of Nordic Compass
which is the attempt of Nordic manufacturing to coordinate better to lead Europe not just in re-arming but in re-industrialising.
Bringing the episode home, we dug into Sweden’s Einride and their impending IPO.
Einride is delivering on the electrification of everything agenda initially in trucks and that means anything ground based.
This show is not investment advice, but it is entertaining and hopefully optimised for insights per minute.
Enjoy the episode!!!
TAKEAWAYS:
Helsing:
- Raising 1.2B a year after their previous raise in summer 2025.
- Valuation allegedly 18B which compares to a 61B valuation of Anduril.
- Backed by Lightspeed and Dragoneer rather than big European funds as far as we can tell.
- Contrast with the whole Ukraine defence industry.
- Shows that Europe is pricing in defence.
Nordic Compass:
- Co-ordinate the major players in industry.
- Big names but its too early to say what will they actually do.
- One opportunity could be blending capital, Ukraine tech and re-industrialising Europe.
- Nordics are 10% of the European population but one third of Europe’s landmass. 12th largest economy in the world.
Einride:
- Electrification of everything trend
- Trucking / ground transport huge markets
- Fantastic to see a Nordic company really pushing the frontiers to take on this big space.
- SPAC in the US markets is a blessing and a curse. Blessing because its the “marketing effect” and curse because we are still reliant on US capital to support this sort of bet.