Shield AI is reporting a $240 million funding round at a pre-money valuation of $5.3 billion.
Investors include L3Harris (NYSE: LHX), Hanwha Aerospace (KRX: 012450), as well as participation from existing investors including Andreessen Horowitz, U.S. Innovative Technology, and Washington Harbour.
The company said that funds raised will expand the deployment of Hivemind Enterprise to facilitate the building of autonomous products like robotics and drones. Hivemind Enterprise is an autonomy software suite for developers and organizations to deploy autonomy for intelligent machines.
Nathan Michael, Shield AI’s Chief Technology Officer, explained that Hivemind Enterprise is for supercharging the industrial base to build and monetize autonomy.
Founded in 2015, Shield AI has a mission of protecting service members and civilians with intelligent, autonomous systems.
Shield AI co-founder Brandon Tseng was previously a Navy Seal. The company was launched with the question in mind: “What does the military of 2030 look like, and what role does autonomy play?” The answer for Tseng was autonomous vehicles, aircraft, and more.