Defense technology startup Shield AI has expanded its Series F funding round by securing an additional $300 million in equity and debt, bringing the total funding to $500 million. The company’s valuation has now reached $2.8 billion, up from $2.7 billion in November.
Key Takeaway
Shield AI has raised an additional $300 million in equity and debt, bringing its Series F funding to $500 million and increasing its valuation to $2.8 billion. The company is pioneering AI technology to create autonomous systems for aircraft, with a focus on advancing military deterrence capabilities.
Expanding Series F Funding
Shield AI closed $200 million in equity in November, and has now raised an additional $100 million in new equity at the Series F price, along with $200 million in debt provided by Hercules Capital. The company has not disclosed the source of the additional equity.
Advancements in AI Technology
Shield AI is focused on developing an “AI pilot” that can transform aircraft into autonomous systems. The flagship product, Hivemind, enables teams of aircraft to operate independently without the need for remote operators, communications, or GPS. CEO Ryan Tseng attributes this capability to recent advances in compute power.