Shield AI, a prominent defense technology company, has announced a substantial expansion of its Series F funding round, reaching a total of $500 million. This expansion includes an additional $100 million in equity, matched with the Series F price, and a $200 million debt contribution from Hercules Capital. This follows the initial $200 million in equity closed in November.
Shield AI specializes in developing AI pilots for aircraft, a field rapidly gaining recognition as a strategic asset in modern warfare. "AI pilots are becoming a strategic conventional deterrent on par with our aircraft carriers and guided missile submarines," stated Ryan Tseng, CEO and Cofounder of Shield AI. He emphasized the paradigm shift in aerospace and defense due to recent advancements in AI and computing power.
Brandon Tseng, Shield AI’s President, Cofounder, and former Navy SEAL, highlighted the critical role of AI pilots in modern conflicts, particularly in countering electronic warfare challenges like GPS and communication jamming, as witnessed in the ongoing Russia-Ukraine War. He also pointed out the potential of AI pilots in enabling swarms of affordable aircraft to execute missions typically assigned to more expensive, exquisite aircraft.
The company's flagship product, Hivemind, is an AI pilot enabling autonomous operation of intelligent aircraft teams in high-threat environments without GPS or remote operators. Hivemind's technology, likened to the autonomy stacks used in self-driving cars, is adaptable to various aircraft types. It has been implemented in quadcopters, the MQ-35A V-BAT, and the F-16, with plans to extend to Kratos’ XQ-58 Valkyrie next year.
Shield AI boasts a record of accumulating more autonomous flight hours executing complex fighter jet maneuvers, such as dogfighting, than any other company worldwide.
The company's recent launch of V-BAT Teams, a new software product powered by Hivemind, marks another milestone. This innovative solution enables teams of V-BATs to autonomously execute missions, reading and reacting to their environment and each other in a manner akin to human pilots.
The significant expansion of Shield AI’s funding underscores the defense and investment communities' growing recognition of the critical impact AI pilots will have on national security and global stability. With this financial boost, Shield AI is poised to continue its trailblazing work in AI-driven aerospace technology, reshaping the future of military aviation and defense strategies.
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