**Shield AI, which manufactures software and hardware for drones and other autonomous aircraft used by military and other government organizations, has raised $165million** Shield AI said that this fund was entered at a valuation of US $2.3 billion, and the company has maintained a strong pace in this regard: This is another financing after the round D financing of US $210-300 million about 10 months ago, with a valuation of US $1.25 billion.
Philippone is an interesting person leading this round of financing: in addition to being an investor, he is also the head of global defense of Palantir, and he has been engaged in this work for the past 14 years. This is very important because Palantir can be said to be one of the key companies to change the rules of the game for start-ups. Stimulated by the technology boom in Silicon Valley, start-ups participated in and began to win defense contracts, and raised huge funds from venture capital companies to promote this growth.
Another influential start-up is anduril, which, as we reported a few weeks ago, is raising $1.2 billion (possibly more) at a valuation of $7billion. We heard that this round of financing has basically ended.
Shield AI is located in San Diego, which is a bit like the Silicon Valley of the defense industry and the home port of the U.S. Pacific Fleet. According to the statistical data collected by the city's chamber of Commerce, San Diego receives more defense spending than any other place in the United States except Fairfax County, Virginia (where the Pentagon is located). Santiago is a major centre dedicated to aerospace development. The goal of shield AI is a very specific customer base, mainly around the U.S. military and its allies. However, even so, when it talks about what it does, it will bring its goals and functions to the background of more ordinary people.
On the company's home page, it described hivemind, its autonomous software platform based on artificial intelligence, as "the top gun of every aircraft". Like many other companies engaged in autonomous transportation (perhaps every company), shield AI has a combination of software and hardware already available, whether in the air or on the ground, followed by products still under development. Some will be used in purely autonomous systems, while others will work with humans.
The company said that hivemind and its Nova UAV (or small UAV system, SUAS, a more formal term) have been used by the military since 2018. Details of the exact location and manner are confidential, as are most of the company's other activities, but they are part of the DOD records program.
The company is also developing a vertical takeoff and landing (VTOL) aircraft called v-bat, which will soon be equipped with hivemind. The software is also being integrated into other aircraft, such as the F-16 fighter in the above figure. It will be used as a human co pilot in order to make it also be used in F-22, F-18 and other types of aircraft. Meanwhile, Tseng said in an interview that its v-bat spacecraft has been put into use all over the world since 2018.
The U.S. Department of defense and the international military are rapidly purchasing v-bat, so we are increasing production as soon as possible, which is one of the reasons for this fund. V-bat defeated 13 competitors and won an important naval record program. Its selling point is that it can withstand challenging conditions. Its unique design and control enable it to take off and land in high winds, on crowded flight decks, and on mobile ships with landing areas as small as 12'x12'.
The bigger strategy is to establish a "bee colony" capability for its equipment -- to use some equipment together as a way to avoid interference from opponents, which is expected to be put on the market by the end of 2023.
The fund-raising environment has never been so favorable for defense technology companies, and supporting defense is taboo in many circles.. Today, it is increasingly recognized that investment in national defense contributes to security, stability and peace, all of which are the foundation of a prosperous society. As others who are investing in this field have pointed out, there has indeed been a significant shift in people's views on companies like shield AI and what they are trying to develop. However, this is still a challenge, which may be one reason why companies like shield still accept what they are trying to do by releasing information to people who may never really become customers.
"Many people are not aware of the scope of conflicts in the world - before Ukraine, 84million people were displaced by violence and persecution, up from 39million in 2011," said project leader Tseng. "There are not so many opportunities to contribute to technologies that meaningfully address mankind's great challenges -- or to create general conditions for human achievement. When you work as a defense AI pilot -- you are studying the most important and disruptive defense technologies in the next three decades -- and are empowering our country and allies to advance security, stability and peace. Waymo's engineers can make In the small trucks staggering in the suburbs, we can build autonomous fighters with a speed of more than 1000 miles per hour to avoid missiles and find threats.