Shield AI, a US-based defence technology company, is raising $150m in fresh investment, reported Bloomberg, citing sources.
The investment values Shield AI at $2.5bn, the sources said.
Brandon Tseng, a former Navy SEAL and Ryan Tseng set up Shield AI in 2015. It is developing an artificial intelligence (AI) pilot, called Hivemind.
Hivemind leverages cutting-edge planning, mapping, and state estimate algorithms to let aircraft perform dynamic flight manoeuvres.
It also uses reinforcement learning to find, pick up on, and put into practice tactics and techniques.
The AI pilot is said to enable full autonomy on aircraft and is designed to operate in high-threat environments with no GPS or communications.
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Shield AI claims that its AI pilot has flown an F-16 fighter jet, a vertical takeoff and landing drone (V-BAT), and a quadcopter.
A request for comment was not immediately answered by a company representative, reported the news agency.
In December 2022, the tech company raised $225m as part of a Series E funding round, which comprised $150m in equity and $75m in debt.
Shield AI’s investors include the US Innovative Technology Fund (USIT), Riot Ventures, Disruptive, Homebrew, Point72, and more.
Boeing and Shield AI signed a memorandum of intent earlier this year to look into potential strategic partnerships in the fields of AI and autonomous capabilities for ongoing and upcoming defence programmes.
Previously, the company has also won contracts from the US military.