Shield AI has raised additional $300 million, increasing its valuation to $2.8 billion

US military technology startup Shield AI has raised an additional $300m in equity and debt capital. The total amount of the Series F round reached $500m.

Here's What We Know

Of this, $200m is new equity investment and $100m is convertible debt from Hercules Capital. The company's valuation has risen to $2.8bn.

Shield AI develops solutions for autonomous drone control based on artificial intelligence technologies. Its flagship product, Hivemind, allows drones to work as a team without operators.

According to Shield AI founder Ryan Tseng, AI-powered pilots could become an important strategic defence capability alongside aircraft carriers and submarines.

Despite its negative reputation, venture debt can be a smart way to raise capital for high-growth, late-stage tech companies, experts say.

Source: TechCrunch