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HomeAI News & UpdatesShield AI Raises Another $300M in Series F, Now Valuation At $2.8B

Shield AI Raises Another $300M in Series F, Now Valuation At $2.8B

2024 is going to be the year of AI investments. With increasing war threats AI startups working on defense technologies are high in demand. Shield AI, a defense technology firm developing the world’s most excellent AI pilot for airplanes, revealed on December 29, 2023, that its Series F fundraising round has been increased to $500 million. An additional $100 million in equity at the Series F price, as well as $200 million in debt from Hercules Capital, were added as the initial $200 million in equity closed in November. The funding will speed up the deployment of AI pilots in various aircraft classes.

Picture Credit: https://shield.ai/

“AI pilots are becoming a strategic conventional deterrent in class with our aircraft carriers and guided missile submarines. But interestingly, it’s the first strategic deterrent that is software-defined and has only recently become possible because of advances in AI and compute power. That’s a huge paradigm shift for aerospace and defense,” said Ryan Tseng, CEO and co-founder of Shield AI.

Picture Credit: https://shield.ai/

“The defense and investment communities are seeing the profound impact AI pilots will have on national security and global stability. AI pilots solve the electronic warfare (GPS- and communications-jamming) problem that’s devastating 10,000 drones per month in the Russia-Ukraine War, and they enable the operating concept of intelligent, affordable mass, where swarms of affordable aircraft can accomplish missions normally reserved for expensive, exquisite aircraft,” said Brandon Tseng. He is the President and co-founder of Shield AI and also a former Navy SEAL.

Picture Credit: https://shield.ai/

Hivemind, the main product of Shield AI, is an AI pilot that allows groups of smart planes to fly and finish missions without human intervention or satellite navigation in dangerous situations. Hivemind is an aircraft-independent autonomy stack comparable to self-driving technology seen in automobiles. The F-16 and MQ-35A V-BAT quadcopters have been flown by it. It will be flying Kratos’ XQ-58 Valkyrie next year. Shield AI has more autonomous flying hours, making fighter jet approaches like dogfighting, than any other firm on the planet.
In a groundbreaking development, Shield AI recently introduced V-BAT Teams—a software solution that utilizes Hivemind—to allow groups of V-BATs to carry out missions while independently understanding and reacting to their surroundings, much like a human piloted team might.

Shield AI

Picture Credit: https://shield.ai/

Shield AI is a defense tech business that has been around since 2015 and is supported by venture capital. They aim to use intelligent technologies to safeguard both civilians and service members. Shield AI is developing the world’s finest AI pilot in pursuit of this aim. Hivemind, its AI pilot, has flown an F-16 fighter plane, a V-BAT, a vertical takeoff and landing drone, and a Nova quadcopter. There are San Diego, Dallas, and Washington, D.C. offices, as well as international ones. With the help of the United States Department of Defense and American allies, Shield AI’s products and personnel are presently assisting operations on the ground. To learn more, go to their website. You can also find Shield AI on Instagram, Twitter, and LinkedIn.

Editorial Staff
Editorial Staff
Editorial Staff at AI Surge is a dedicated team of experts led by Paul Robins, boasting a combined experience of over 7 years in Computer Science, AI, emerging technologies, and online publishing. Our commitment is to bring you authoritative insights into the forefront of artificial intelligence.
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