Shield AI

Shield AI is a defense technology company that builds Hivemind, AI pilot software that lets aircraft and drones operate without GPS or communications, along with its own aircraft: the Nova quadcopter, the V-BAT vertical takeoff drone obtained through its 2021 acquisition of Martin UAV, and the X-BAT autonomous fighter unveiled in October 2025. It was founded in 2015 in San Diego by Brandon Tseng, a former Navy SEAL, his brother Ryan Tseng and Andrew Reiter, with $100,000 from friends and family. Gary Steele became CEO in March 2025. Customers include the U.S. Air Force, U.S. Coast Guard and the Brazilian military.

Homebrew led the seed round. Andreessen Horowitz and Breyer Capital led earlier rounds, and Point72 Ventures led a $90 million Series C in February 2021. Disruptive led a $210 million Series D in August 2021 that took the company past a $1 billion valuation, with Point72, Breyer Capital and Andreessen Horowitz participating. Snowpoint Ventures led a $165 million Series E in June 2022 at $2.3 billion, joined by Riot Ventures, Homebrew, Point72, SVB Capital and others. U.S. Innovative Technology Fund and Riot Ventures co-led a $200 million Series F in October 2023 at $2.7 billion, which the company later extended to $500 million. L3Harris and Hanwha Asset Management led a $240 million F-1 round in March 2025 at $5.3 billion. On March 26, 2026 Shield AI announced $2 billion of financing at a $12.7 billion post-money valuation: a $1.5 billion Series G led by Advent International and co-led by JPMorganChase's Security and Resiliency Initiative, $500 million of preferred equity from Blackstone, and a $250 million delayed draw facility.

Part of the 2026 proceeds funded the acquisition of Aechelon Technology, a visual simulation company previously owned by Sagewind Capital, which Shield AI has since completed. Earlier acquisitions include Heron Systems, Martin UAV, Sentient Vision Systems in Australia and Crowdbotics. The company employed about 1,500 people as of March 2026. It does not publish revenue.

Shield AI is an example of defense tech moving from a niche venture category to one that draws buyout firms, strategic acquirers and banks. Early specialist backers such as Homebrew, Breyer Capital and Andreessen Horowitz entered when the company was building indoor drones, and saw the valuation rise roughly fivefold between the 2023 Series F and the 2026 Series G. The company remains private, so investors have not yet realized a liquidity event about eleven years after founding.