Shield AI, a San Diego-based defense technology startup specializing in drones and AI-powered military systems, has secured $240 million in funding at a valuation of $5.3 billion. The company announced that its Hivemind software enables autonomous flight for fighter jets and drones. Shield AI now aims to expand its customer base by offering Hivemind to robotics companies and other industries. The funding round attracted investments from prominent entities such as L3Harris, a leading U.S. defense contractor, and Hanwha Aerospace, alongside existing investors like Andreessen Horowitz. This positions Shield AI as the second-highest valued defense tech startup in the U.S., following Anduril, which is currently raising funds at a $28 billion valuation. Autonomy remains a key focus in the defense sector, with companies like autonomous warship startup Saronic recently quadrupling its valuation to $4 billion after a $600 million funding round last month. — news from TechCrunch
