Shield AI, a San Diego defense technology startup that builds military systems powered by drones and other AI, announced today that it has raised $240 million at a $5.3 billion valuation.
Shield AI says its Hivemind software already allows fighters and drones to fly autonomously. Currently, Shield AI wants to sell Hivemind to a wide range of customers, including Robotics Companies.
Investors in the round include L3Harris and Hanwha Aerospace, one of the largest defense contractors in the United States. Existing investors like Andreessen Horowitz also took part.
This makes Shield Ai the second largest defense technology startup in the United States by valuation, after Anduril, which is raising at a $28 billion valuation.
Autonomy is a hot field of defense, and Salonick, an autonomous warship startup, has increased its valuation to $4 billion in a $600 million round last month.
Shield AI did not immediately respond to requests for comment.