Shield AI Jumps to $12.7 Billion Valuation After Air Force Program Win and $2 Billion Raise
Story Summary
The financing came weeks after Shield AI was selected to provide mission-autonomy software for a key Air Force drone program, sharply lifting its valuation.
SAN DIEGO ? Shield AI said it has secured a $2 billion financing package at a $12.7 billion valuation, a sharp jump that followed the company's selection for a major U.S. Air Force drone-autonomy effort.
In TechCrunch's financing report, the company said it raised $1.5 billion in Series G funding and arranged $500 million in preferred financing, with proceeds also supporting its planned acquisition of flight-simulation company Aechelon Technology.
Shield AI detailed the deal in its own company announcement, where it said Advent International and a JPMorganChase investment group led the financing and Blackstone-backed funds also participated.
The valuation jump came after a February breakthrough in defense procurement. The U.S. Air Force said Shield AI and RTX Collins had started semi-autonomous flight testing under the Collaborative Combat Aircraft ecosystem, while Shield AI's own release said its Hivemind software had been chosen to fly aboard Anduril's Fury aircraft.
The funding round showed how quickly defense investors are rewarding companies that can tie autonomy software to live military procurement programs.