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

Shield AI has raised 200 million US dollars in a financing round and has reached a valuation of 2.7 billion US dollars. The company is developing an AI pilot for airplanes 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) led this funding round, with support from Riot Ventures, Cathie Woods ARK Invest, and returning investors Disruptive and Snowpoint. This funding round values Shield AI at 2.7 billion US dollars.

This funding will accelerate the scaling of Shield AI's products and enable the deployment of intelligent, low-cost crowds.

Brandon Tseng, President of Shield AI, 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, edge-of-action environments 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, allowing 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 display dynamic behaviors autonomously. 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 of our future defense technology requirements. Shield AI remains a pioneer in this sector, driving innovation to prevent conflicts before they start.

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 continues to deploy autonomy-guided flight lessons in 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 a clear lead in autonomy efforts. Their AI pilots are adaptable and can perform different 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 already piloted various aircraft. The company has offices in various cities and currently supports operations of the US Department of Defense and its allies in the field.