Shield AI expands massive Series F with another $300M in equity, debt, scaling valuation to $2.8B

Defense tech startup Shield AI has expanded its latest funding round with another $300 million in equity and debt, bringing its total Series F to $500 million, TechCrunch has exclusively learned.

This total amount reflects $200 million in equity closed in November, $100 million in new equity raised at the Series F price, and $200 million in debt. The debt provider is Hercules Capital; Shield declined to specify the source of the additional equity. The company’s valuation now stands at $2.8 billion, up from $2.7 billion in November.

Shield AI is building an “AI pilot” to turn aircraft into autonomous systems. Its flagship product, Hivemind, will let teams of aircraft operate independently of remote operators, communications or GPS. Shield CEO and cofounder Ryan Tseng credits the capability to recent advances in compute.

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