Shield AI secures $200m and reaches $2.7bn valuation

Shield AI has raised $200 million in a funding round, reaching a valuation of $2.7 billion. The company is developing an AI pilot for aircraft that operates autonomously in dangerous environments.

SAN DIEGO - Defense technology company Shield AI announced that it has raised $200 million in an oversubscribed Series F funding round. The U.S. Innovative Technology Fund (USIT) took the lead role in this funding round, with support from Riot Ventures, Cathie Woods ARK Invest, and returning investors Disruptive and Snowpoint. This round of funding values Shield AI at $2.7 billion.

This funding accelerates the scaling of Shield AI's products and enables the deployment of smart, low-cost crowds.

Brandon Tseng, Shield AI president, co-founder and former Navy SEAL

Shield AI has developed an AI pilot called Hivemind that enables teams of intelligent aircraft to operate autonomously in high-threat environments at the edge without relying on remote controls, command inputs or GPS. This technology is similar to approaches used in the self-driving vehicle industry, and its software stack is aircraft agnostic, enabling Shield AI to provide autonomy for various form factors in the aerospace industry. This announcement comes shortly after the launch of the company's V-BAT Teams product. This product enables a single operator to control at least four V-BATs, generate real-time AI-driven trajectories, and autonomously display dynamic behaviors. With the exception of lethal decisions, V-BAT teams can execute missions from start to finish without the need for an operator or pilot.

The increasing number of military conflicts provides a glimpse into our future defense technology requirements. Shield AI remains a pioneer in this sector, driving innovation to prevent conflict before it starts.

Thomas Tull, Chairman of USIT

At the same time, the company is working to integrate Hivemind into unmanned combat aircraft. In December 2022, Shield AI and its government partners made aviation history by autonomously maneuvering a modified F-16 in real-world air combat scenarios. The company is continuously putting autonomy-guided flight hours into fighter aircraft.

Funds from the Series F funding round will be used to scale and deploy Shield AI's V-BAT Teams product domestically and internationally and accelerate technical integration with third-party unmanned platforms.

Shield AI has clear leadership in autonomy efforts. Its AI pilots are adaptable and can perform multiple missions.

Stephen Marcus, co-founder and general partner of Riot Ventures

Shield AI, founded in 2015, is a defense technology company specializing in intelligent systems. Its AI pilot, Hivemind, has piloted several aircraft. The company has offices in several cities and currently supports operations on the ground for the U.S. Department of Defense and its allies.