December 29, 2023: Shield AI Inc., a defense startup headquartered in San Diego, has raised an extra $300 million in funding, supplementing the $200 million it received during its Series F round in the previous year. The most recent cash injection comprises $200 million in venture debt from Hercules Capital and an additional $100 million in equity. With this recent infusion of funds, Shield AI’s valuation has risen to $2.8 billion, marking a $100 million increase since the initial conclusion of its Series F round.
The primary focus of Shield AI lies in the creation of cutting-edge autonomous flight software, with its flagship product being the Hivemind platform. Specifically designed to cater to military aircraft, conventional planes, and drones, Hivemind facilitates self-guided navigation devoid of any human intervention, all while operating independently of GPS signals. The technology enables its implementation in areas where communication jamming poses a significant challenge.