Shield AI, a San Diego, CA-based defense technology company building AI pilots for aircraft, raised additional $60M equity capital from the U.S. Innovative Technology Fund (USIT).
This additional raise was done at the company’s Series E price and closes out the round at $225M, with $150M in equity and $75M in debt.
The initial part of Series E of $165M was closed in June 2022.
Led by Brandon Tseng, cofounder and president, Shield AI provides the Hivemind software, an AI pilot for military and commercial aircraft that enables intelligent teams of aircraft to perform missions ranging from room clearance, to penetrating air defense systems, and dogfighting F-16s. Hivemind employs algorithms for planning, mapping, and state-estimation to enable aircraft to execute dynamic flight maneuvers and uses reinforcement learning for discovery, learning, and execution of winning tactics and strategies. On aircraft, Hivemind enables full autonomy and is designed to run fully on the edge, disconnected from the cloud, in high threat, GPS and communication-degraded environments. Shield AI’s products and people are currently in the field actively supporting operations with the U.S. Department of Defense and allies.
The company has offices in San Diego, Washington D.C., Dallas, and Abu Dhabi. .
FinSMEs
13/12/2022