Shield AI, a San Diego, CA-based startup specializing in autonomous flying systems for military and defense applications, raised $200 million in a Series F funding, values Shield AI at $2.7 billion.
The round was led by U.S. Innovative Technology Fund (USIT) and co-led by Riot Ventures, with participation from Cathie Wood's ARK Invest and returning investors Disruptive and Snowpoint.
U.S. Innovative Technology is an investment firm that backs early- and growth-stage technology companies with dual-use applications to the commercial sector and defense industry, including, defense-tech, artificial intelligence, logistics, space, tech bio and future of compute.
Founded in 2017, Riot Ventures is a venture capital firm based in Los Angeles, California. The firm invests in deep technology with focus on intelligence, sensing and control, communications, mobility and security.
Shield AI Use of Funds
The company will use the fresh funds to scale and deploy Shield AI's V-BAT Teams product domestically and internationally and accelerate tech integration with third-party uncrewed platforms.
About Shield AI
Founded in 2015, Shield AI is a defense technology company whose mission is to protect service members and civilians with intelligent systems. The company develops hardware and software to transform drones and aircraft into autonomous systems capable of operating in contested environments. Shield AI's core product is Hivemind, an AI pilot software, a drone swarming capability called V-Bat Teams, and a quadcopter (Nova). The company has offices in San Diego, Dallas, Washington, D.C., and abroad. Shield AI's products and people are currently in the field actively supporting operations with the U.S. Department of Defense and U.S. allies.
Company: Shield AI, Inc.
Round: Series F
Funding Month: October 2023
Lead Investors: U.S. Innovative Technology Fund (USIT) and Riot Ventures
Additional Investors: Cathie Wood's ARK Invest, Disruptive, Snowpoint
Company Website: https://shield.ai/
Software Category: AI Pilot