Shield AI Raises $240M, Valued at $5.3B: Advancing Autonomous Defense Technology

Defense technology startup Shield AI valued at $5.3B in $240M funding round - SiliconANGLE

Defense technology startup Shield AI valued at $5.3B in $240M funding round Defense technology startup Shield AI Inc. today announced that it has raised $240 million in funding at a $5.3 billion valuation. The Series F-1 round included the participation of Andreessen Horowitz, U.S. Innovative Technology and Washington Harbour. They were joined by new investors L3Harris Technologies Inc. and Hanwha Aerospace Co., two publicly-traded defense contractors. The round brings Shield AI's total outside funding to $1.3 billion. Shield AI's flagship product is Hivemind Enterprise, a platform designed to power autonomous defense systems such as drones. According to the company, the software enables the machines in which it's installed to operate without access to reliable communications links or GPS. Shield AI says that it has successfully tested Hivemind Enterprise in several aircraft types. The platform's first component is an operating system called EdgeOS. According to Shield AI, it includes a specialized programming language for defining how an autonomous machine should exchange data with other systems. EdgeOS is extensible, which means developers can extend its core feature with custom capabilities. EdgeOS is complemented by a second software product called Pilot. The latter offering provides prepackaged algorithms for use cases such as autonomous drone navigation. To help developers learn how to use Pilot, Scale AI ships the software with a collection of reference implementations. Hivemind Enteprirse's third component, Forge, is designed to ease the development of autonomous machines. It includes simulation programs that can be used to test components such as a system's sensors and actuators. An analytics toolkit makes it easier to review the technical data generated by such tests. Autonomous machines have complicated settings that can be configured in many different ways. According to Shield AI, Hivemind verifies that the machines it powers are configured correctly to avoid technical issues. For added measure, the company provides logging tools that make it easier to identify errors. "Developing autonomy is both complex and costly," said Shield AI Chief Technology Officer Nathan Michael. "Hivemind Enterprise solves this widely known problem and enables the rapid and efficient proliferation of resilient, high-performance autonomy." Shield AI offers Hivemind Enterprise alongside several hardware products. The V-Bat (pictured) is a drone that takes off vertically and can fly for up to 13 hours. It's designed to work with another Shield AI hardware product, VIDAR, that combines a set of cameras with analytics software.

Defense Startup Shield AI Reaches $5.3 Billion Valuation: Details - L3Harris Technologies (NYSE:LHX)

Shield AI, a deep-tech firm focused on autonomy software and defense aircraft, has successfully closed a $240 million strategic funding round, raising its valuation to a high of $5.3 billion. The round saw backing from key industry players, such as L3Harris Technologies Inc LHX and Hanwha Aerospace, along with continued investment from firms like Andreessen Horowitz, U.S. Innovative Technology, and Washington Harbour. The capital raised will be used to further the development and deployment of Shield AI's Hivemind Enterprise, a product aimed at transforming the autonomous systems sector. Hivemind Enterprise is an autonomy software suite designed to simplify and speed up the development of intelligent machines. It provides developers and organizations with essential tools to build, test, and deploy unmanned systems. Also Read: Nauticus Robotics To Acquire SeaTrepid International "Developing autonomy is both complex and costly. Hivemind Enterprise solves this widely known problem and enables the rapid and efficient proliferation of resilient, high-performance autonomy for intelligent machines across industries," said Shield AI's Chief Technology Officer, Nathan Michael. With support from investors, the company plans to extend its Hivemind Enterprise autonomy software suite to Original Equipment Manufacturers (OEMs), government entities, and various businesses. This move is expected to speed up the creation of intelligent machines that can function in environments where GPS and communications are unavailable. "The need for advanced autonomy has never been more urgent, and Shield AI is proving that autonomy at scale is not only possible but inevitable. Their commitment to pushing the boundaries of AI-driven autonomy aligns with our Trusted Disruptor strategy, where we partner to accelerate the delivery of AI-enabled solutions and emerging technologies to meet our customers' needs faster and more efficiently," said Chair and CEO of L3Harris, Christopher E. Kubasik. The software suite offers a unique combination of AI-driven toolsets, edge autonomy capabilities, and an integrated autonomy factory, allowing developers to create mission-ready systems with speed and flexibility. Read Next: Macy's Q4 Revenue Lag And Annual Outlook Disappoints Investors Image via Shutterstock. LHXL3Harris Technologies Inc$214.500.33%Stock Score Locked: Edge Members Only Benzinga Rankings give you vital metrics on any stock - anytime. Unlock RankingsEdge RankingsMomentum32.82Growth69.51Quality65.52Value25.14Price TrendShortMediumLongOverview This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs