Shield AI has raised $240 million in a round of F-1 strategic financing, bringing the deep-tech company’s valuation to approximately $5.3 billion.
The company said Thursday it will use the capital to expand the deployment of its Hivemind Enterprise autonomy software to government agencies, original equipment manufacturers and companies.
What Is Hivemind Enterprise?
Hivemind Enterprise is an artificial intelligence-powered autonomy software suite designed to help developers and organizations develop, test, assess and deploy autonomy for intelligent machines.
“Hivemind Enterprise is about supercharging the industrial base to build and monetize autonomy, enabling a world of millions of autonomous systems in the next ten years,” said Nathan Michael, chief technology officer at Shield AI.
The product suite includes an integrated autonomy factory, autonomy catalog, mission control and industrial-grade production-ready middleware to help developers accelerate the development of mission-ready autonomy platforms.
“The same tools that make up Hivemind Enterprise have already enabled Shield AI to autonomously fly F-16s, MQ-20s, MQM-178s, operate V-BATs in GPS- and communications-denied environments, and have quadcopters explore buildings and tunnels for U.S. and Israeli forces,” said Brandon Tseng, president and co-founder of Shield AI.
Strong Support From Strategic Investors
Strategic investors L3Harris Technologies and Hanwha Aerospace participated in the funding round.
In February, Shield AI partnered with L3Harris to integrate its Hivemind AI pilot with the latter’s Distributed Spectrum Collaboration and Operations, or DiSCO, software-defined electromagnetic battle management ecosystem to demonstrate an electronic warfare operation with AI-powered unmanned systems.
For this latest funding round, Shield AI also received support from existing investors, including Andreessen Horowitz, Washington Harbour and U.S. Innovative Technology.
Series F Funding Expansion
In December 2023, Shield AI announced that it had raised $500 million through the expansion of its Series F funding round.
The company said it will use the funding to accelerate the deployment of AI pilots to different classes of aircraft.
