Shield AI has raised $1.5 billion in Series G financing at a post-money valuation of $12.7 billion. Innovation X Advisors participated alongside other existing investors. The transaction also included $500 million of fixed-return preferred equity financing and a $250 million delayed-draw facility.
The capital will support Shield AI’s continued growth, development of autonomous aircraft and software, and other long-term strategic initiatives.
Founded in 2015, Shield AI develops artificial intelligence and autonomous systems for military and national security applications.
Its products include Hivemind autonomy software, the V-BAT vertical takeoff and landing aircraft and the planned X-BAT autonomous fighter aircraft.
Shield AI said Hivemind has piloted 26 types of vehicles, including F-16 aircraft, helicopters, jet-powered drones, unmanned boats and ground vehicles. The U.S. Air Force also selected the company as a mission autonomy provider for its Collaborative Combat Aircraft program.
A portion of the financing will support Shield AI’s planned acquisition of Aechelon Technology.
Aechelon develops high-fidelity simulation and synthetic environment technology used to train and test military systems, including technologies supporting the Pentagon’s Joint Simulation Environment.
Innovation X Advisors manages more than $4.5 billion and invests in late-stage private companies across defense technology, artificial intelligence, fintech, infrastructure and space.
KEY QUOTES:
“This capital lets us keep building at scale. V-BAT and Hivemind continue to deliver increased operational effects for our customers, and X-BAT, the world’s first AI-piloted VTOL fighter jet, is next.”
Brandon Tseng, President and Co-Founder of Shield AI
“We believe the future of defense will be shaped in software, trained in simulation and proven in the field.”
Roger Monteforte, Chairman and CEO of Innovation X Advisors
