Shield AI secured $240 million in funding, elevating its valuation to $5.3 billion. The San Diego startup is enhancing its focus on autonomous software, specifically through its Hivemind platform, allowing various businesses to create their own autonomous systems. This funding round attracted significant investments from notable aerospace and defense firms alongside venture capitalists, highlighting a growing trend in the defense sector where investors are prioritizing technology innovation amidst increasing Pentagon spending on modern warfare enhancements.
"This next phase is really about working with the small and medium businesses that want to operate autonomous hardware across air, land or sea, Shield AI co-founder Brandon Tseng said."
"Investors have poured record amounts into AI, space weapons and other defense technologies, hoping the Pentagon will increase its tech spending as modern warfare evolves."
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