Defense Tech Startup Shield AI Raises $240M at $5.3B Valuation

San Diego-based defense technology startup Shield AI has successfully secured a $240 million funding round, bringing its valuation to $5.3 billion. The company's Hivemind software is currently utilized for enabling unmanned aerial vehicles and fighter jets to operate autonomously. Moving forward, Shield AI aims to expand the market for Hivemind, targeting potential customers such as robotics companies. 

Notably, the latest funding round saw participation from major players in the industry, including L3Harris and Hanwha Aerospace, as well as existing investor Andreessen Horowitz. With this achievement, Shield AI now ranks as the second-largest defense tech startup in the U.S. in terms of valuation, following Anduril.

The field of autonomy in defense continues to gain momentum, as demonstrated by the recent significant valuation increase of Saronic, an autonomous warship startup. While Shield AI is yet to comment on the latest development, its position in the industry remains strong.

Discover more about the funding here.