Shield AI, a company specializing in defense technology, has increased its current fundraising round by an additional $300 million in stock and debt. This brings the total amount raised in its Series F investment to $500 million, as exclusively reported by Eltrys.
The overall sum comprises $200 million in stock that was finalized in November, an additional $100 million in newly acquired shares at the Series F price, and $200 million in debt. Hercules Capital is the loan supplier, whereas Shield chose not to disclose the origin of the extra equity. The company’s current worth has increased to $2.8 billion, compared to $2.7 billion in November.
Shield AI is developing an “AI pilot” that will transform airplanes into autonomous systems. The main product, Hivemind, enables groups of aircraft to function autonomously without the need for remote operators, communication systems, or GPS. The CEO and co-founder of Shield, Ryan Tseng, attributes the company’s capacity to recent advancements in computing technology. 
“AI pilots are emerging as a vital conventional deterrent alongside our aircraft carriers and guided missile submarines,” he said. “However, it is noteworthy that this is the initial form of a defensive measure that is defined by software and has only recently become feasible due to advancements in artificial intelligence and computational capabilities.” This represents a significant and transformative change in the fields of aerospace and defense.
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The business located in San Diego has just introduced V-BAT Teams, a software solution that works in conjunction with Hivemind and allows teams of V-BAT drones to carry out missions independently and in synchronization.
During his recent testimony before the U.S. Senate, Brandon Tseng, the president and co-founder, emphasized the significance of AI-piloted systems in the country’s overall deterrence policy. He expressed his belief that AI-piloted systems would serve as the most effective military deterrent of our time. We must ensure accuracy and precision. Nevertheless, he said that the integration of AI pilots into the Department of Defense’s (DOD) force composition has been challenging and unclear.
“Given the emergence of novel forms of warfare in which powerful military arsenals can be rendered ineffective by inexpensive adversary armaments, it is imperative for the Department of Defense (DoD) to alter its approach to developing its future force. This entails shifting away from outdated strategies that have proven successful in the past and instead directing its resources towards acquiring the next generation of revolutionary technological assets,” he stated. “If we do not adopt AI pilots quickly enough, we will not succeed.” Decisive measures are necessary if we are to achieve victory.
