BERLIN, June 17 (Reuters) - German defence start-up

Helsing has raised 600 million euros ($693.30 million) in its

latest investment round, lead by Spotify ( SPOT ) founder Daniel

Ek, the firm said on Tuesday.

The latest investment round has raised Helsing's value to

$12 billion, the Financial Times reported on Tuesday, citing

people familiar with the matter.

This positions the start-up among the top five private tech

companies in Europe, the FT added.

The investment round was lead by Prima Materia, an

investment company founded by Ek and Spotify ( SPOT ) investor Shakil

Khan, which doubled its investment in the firm.

Other investors included Lightspeed Ventures, Accel, Plural,

General Catalyst and SAAB, Helsing said in a

statement.

The Munich-based defence start-up, which specializes in AI

software and is moving to produce its own drones, aircraft and

submarines, hopes to benefit from governments ramping up defence

spending amid rising geopolitical tensions.

($1 = 0.8654 euros)