How Much Did Shield AI Raise? Funding & Key Investors

Shield AI has raised funding across multiple rounds backed by investors including Advent International, JPMorganChase, Andreessen Horowitz, Blackstone, L3Harris Technologies, Hanwha Asset Management, Snowpoint Ventures, Point72 Ventures, Riot Ventures, U.S. Innovative Technology Fund, Disruptive, Breyer Capital, Hercules Capital, and others.

Keep reading to explore the intricacies of Shield AI's fundraising journey and the investors backing this innovative defense technology platform.

What Is Shield AI?

Shield AI is a deep-tech company based in San Diego, California, specializing in AI-powered autonomy software for defense and national security applications. Founded in 2015 by Brandon Tseng, Ryan Tseng, and Andrew Reiter, the company builds products including Hivemind Enterprise — an AI-powered autonomy developer platform — as well as autonomous aircraft systems such as V-BAT and the X-BAT program. Shield AI's software enables aircraft, drones, and other vehicles to operate intelligently in GPS-denied and communications-denied environments. The company serves the U.S. military and allied defense organizations and employs between 1,000 and 5,000 people.

How Much Funding Has Shield AI Raised?

1. Angel / Pre-Seed
   • Amount Raised: USD 600,000
   • Date: 2015
   • Lead Investors: Undisclosed
2. Seed
   • Amount Raised: USD 2,650,000
   • Date: May 2016
   • Lead Investors: Founder Collective, Bloomberg Beta, Homebrew
3. Series A
   • Amount Raised: USD 10,500,000
   • Date: March 2017
   • Lead Investors: Andreessen Horowitz
   • Other Investors: Homebrew, Bloomberg Beta, Founder Collective
4. Series A (extension)
   • Amount Raised: USD 10,000,000
   • Date: December 2018
   • Lead Investors: Undisclosed
5. Series B
   • Amount Raised: USD 22,200,000
   • Date: August 2019
   • Lead Investors: SVB Capital
6. Series C (tranche 1)
   • Amount Raised: USD 52,900,000
   • Date: November 2020
   • Lead Investors: Undisclosed
7. Series C (tranche 2)
   • Amount Raised: USD 90,000,000
   • Date: February 2021
   • Lead Investors: Point72 Ventures
8. Conventional Debt
   • Amount Raised: Undisclosed
   • Date: February 2021
   • Lead Investors: Point72 Ventures
9. Series D
   • Amount Raised: USD 210,000,000
   • Date: August 2021
   • Lead Investors: Disruptive
   • Other Investors: Point72 Ventures, Breyer Capital, Andreessen Horowitz
10. Series E
    • Amount Raised: USD 90,000,000
    • Date: May 2022
    • Lead Investors: Snowpoint Ventures
    • Other Investors: Riot Ventures, Disruptive, Homebrew, Point72 Ventures, Andreessen Horowitz, Breyer Capital, SVB
11. Conventional Debt
    • Amount Raised: USD 75,000,000
    • Date: June 2022
    • Lead Investors: Undisclosed
12. Series E (extension)
    • Amount Raised: USD 60,000,000
    • Date: December 2022
    • Lead Investors: Thomas Tull / U.S. Innovative Technology Fund
13. Series F
    • Amount Raised: USD 200,000,000
    • Date: October 2023
    • Lead Investors: U.S. Innovative Technology Fund (USIT), Riot Ventures
    • Other Investors: ARK Investment Management (Cathie Wood), Andreessen Horowitz, Point72 Ventures, Homebrew, Disruptive, Snowpoint Ventures
    • Valuation: USD 2,700,000,000
14. Series F (extension)
    • Amount Raised: USD 100,000,000
    • Date: December 2023
    • Lead Investors: Undisclosed
15. Venture Debt
    • Amount Raised: USD 200,000,000
    • Date: December 2023
    • Lead Investors: Hercules Capital
    • Valuation: USD 2,800,000,000
16. Series F-1 (Strategic Round)
    • Amount Raised: USD 240,000,000
    • Date: March 6, 2025
    • Lead Investors: L3Harris Technologies, Hanwha Asset Management
    • Other Investors: Andreessen Horowitz, U.S. Innovative Technology Fund, Washington Harbour Partners
    • Valuation: USD 5,300,000,000
17. Series G
    • Amount Raised: USD 1,500,000,000 in equity + USD 500,000,000 in fixed-return preferred equity (total USD 2,000,000,000)
    • Date: March 26, 2026
    • Lead Investors: Advent International, JPMorganChase (Security and Resiliency Initiative)
    • Other Investors: Blackstone (preferred equity), Snowpoint Ventures, InnovationX, Riot Ventures, Disruptive, Apandion
    • Valuation: USD 12,700,000,000

Total Amount Raised: at least $3.16B based on disclosed funding (note: the February 2021 conventional debt amount was not publicly disclosed).

Key Investors

• Advent International
  • Details: Advent International is a global private equity firm and co-lead investor in Shield AI's Series G round (March 2026). The firm committed up to $1 billion in next-generation defense technology investments and its chairman David Mussafer joined Shield AI's Board of Directors.
• JPMorganChase (Security and Resiliency Initiative)
  • Details: JPMorganChase co-led the Series G round via its Strategic Investment Group's Security and Resiliency Initiative. Todd Combs joined as a Board Observer following the investment.
• Blackstone
  • Details: Blackstone-managed funds invested $500 million in fixed-return preferred equity as part of the Series G transaction and also committed an additional $250 million delayed draw facility.
• Andreessen Horowitz (a16z)
  • Details: Andreessen Horowitz is a leading Silicon Valley venture capital firm that has backed Shield AI since the Series A round in 2017 and has participated in multiple subsequent rounds. The firm invests across technology sectors including defense, software, and AI.
• L3Harris Technologies
  • Details: L3Harris Technologies is a global aerospace and defense technology company that co-led Shield AI's Series F-1 round in March 2025, underscoring deep strategic alignment in the autonomous defense systems space.
• Hanwha Asset Management
  • Details: South Korean aerospace and defense conglomerate Hanwha co-led the Series F-1 round alongside L3Harris, bringing international strategic investment to Shield AI's platform.
• U.S. Innovative Technology Fund (USIT)
  • Details: USIT, led by Thomas Tull, co-led Shield AI's Series F round and made multiple prior equity investments, focusing on next-generation defense and technology companies.
• Point72 Ventures
  • Details: Point72 Ventures is an every-stage global VC fund focused on fintech, deep tech, and enterprise. It led Shield AI's Series C tranche in February 2021 and has participated in multiple follow-on rounds.

What's Next for Shield AI?

With its $240M Series F-1 raise at a $5.3B valuation, Shield AI is well-positioned to accelerate the deployment of Hivemind Enterprise across new OEM, government, and commercial partners. The company's long-term vision is to deploy millions of autonomous systems over the next decade—operating effectively in contested, GPS-denied, and communications-degraded environments.

Key priorities include scaling the Hivemind platform, deepening integration with strategic partners like L3Harris and Hanwha Aerospace, and continuing product development on programs like X-BAT. Shield AI is also navigating ongoing challenges around regulatory frameworks for autonomous weapons systems, competition from other defense AI players, and the complexities of operating in highly sensitive national security markets.

As demand for AI-powered defense solutions rises globally, Shield AI is increasingly viewed as a foundational infrastructure player—not just a drone company—in the next generation of autonomous warfare and national security technology.

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