Shield AI Contract and Program Ledger
| Customer / Program | Year | Disclosed Value | Type | Status |
|---|---|---|---|---|
| U.S. Air Force, small UAS | 2021 | $7.2M | Production / services | Awarded |
| U.S. Air Force, AFWERX STRATFI (Hivemind swarming + eVTOL autonomy) | 2022 | ~$60M | Software / RDT&E (max STRATFI) | Awarded |
| U.S. Coast Guard, V-BAT maritime ISR (COCO) | 2024 | $198M (IDIQ ceiling) | Hardware services IDIQ | Awarded; OT&E passed 2025, full deployment cleared |
| U.S. Air Force, VENOM-AT (Hivemind on F-16) | 2024 | Undisclosed | Autonomy testbed | Active at Eglin AFB |
| U.S. Navy, COCO ISR services (V-BAT) | 2026 | Up to $800M (competition pool) | IDIQ recompete pool | Selected to compete; task orders Sep 2026 to Aug 2031 |
| U.S. Air Force CCA, mission autonomy | 2026 | Undisclosed | Autonomy software | Selected (alongside RTX); X-BAT pitched for future CCA increments |
Updated at 2026-04
Shield AI Funding Rounds and Valuation Trajectory
| Round (date) | Amount Raised | Post-Money Valuation | Notable Investors |
|---|---|---|---|
| Seed (2015) | $0.1M | n/a | Homebrew, Founders Collective, friends and family |
| Series A (2017) | $10.5M | n/a | Early venture syndicate |
| Series B (2018) | $15M | n/a | Andreessen Horowitz, Homebrew |
| Series C (2020) | $90M | n/a | Andreessen Horowitz, Riot Ventures |
| Series D (2021) | $210M | $1B+ | Disruptive, Andreessen Horowitz |
| Series E (Jun 2022) | $165M | $2.3B | Snowpoint Ventures, Riot Ventures, Disruptive, Homebrew |
| Series F (Nov 2023) | $200M | $2.7B | Existing institutional investors |
| Series F Extension (Dec 2023) | $300M (debt) | $2.8B | Hercules Capital (venture debt) |
| Series F-1 Strategic (Mar 2025) | $240M | $5.3B | L3Harris, Hanwha Asset Management, Andreessen Horowitz, U.S. Innovative Technology, Washington Harbour |
| Series F-1 Extension (late 2025) | $300M | $5.6B | Existing investors (extension of same round; Fortune first reported) |
| Series G (Mar 2026) | $1.5B equity + $500M Blackstone preferred + $250M draw facility | $12.7B | Advent International, JPMorgan SRI, Blackstone, Snowpoint, Riot, Disruptive |
Updated at 2026-03
Hivemind AI Pilot: Aircraft Platform Integrations
| Aircraft (in order of integration) | Class | Role / Context |
|---|---|---|
| Nova / Nova 2 | Quadcopter (sUAS) | Original Hivemind platform; indoor and subterranean autonomy, fielded with SOCOM |
| iPRD | Quadcopter | Small autonomous reconnaissance rotorcraft integration |
| MQ-35A V-BAT | Group 3 VTOL UAS | Flagship hardware product; Hivemind enables GPS-denied autonomous ISR |
| F-16 (VENOM-AT) | Manned fighter testbed | Hivemind selected for Air Force VENOM-AT autonomy program at Eglin AFB |
| Kratos MQM-178 Firejet | Jet target drone | Demonstrated collaborative multi-jet autonomy in flight test |
| Kratos XQ-58 Valkyrie (RUMORED: integration contracted, flight unconfirmed) | Jet (loyal-wingman class) | Integration teaming announced Jun 2023; planned as 7th aircraft per Mar 2024 press release. No Shield AI press release confirming completed AI-piloted flights found as of Jun 2026. |
| Kratos BQM-177A | Jet target drone | Announced Mar 2024 as the eighth aircraft and fourth jet integration |
| X-BAT | Autonomous VTOL fighter jet | Shield AI's own next-gen airframe, Hivemind-native; unveiled Oct 2025 |
| Broader fleet (company-stated) | More than 20 vehicle classes | Includes helicopters, drone boats, and ground vehicles per Mar 2026 Series G release; superset of the named airframes above |
Updated at 2026-03
Shield AI Product and Platform Timeline
| System | Type | Introduced / Acquired | Status |
|---|---|---|---|
| Hivemind | AI pilot autonomy stack | 2015 | Production; flies V-BAT, F-16 VENOM-AT, X-BAT and 20+ vehicle classes |
| Nova / Nova 2 | Indoor autonomous quadcopter (sUAS) | 2015 / Nova 2 in 2021 | Production; fielded with SOCOM and allies |
| Heron Systems (acquired) | AI air-combat capability | Jul 2021 | Integrated into Hivemind |
| V-BAT | Group 3 VTOL UAS (MQ-35A) | Via Martin UAV acquisition (2021) | Production; USMC, USCG, RNLN, Ukraine, Frontex |
| ViDAR (Sentient Vision, acquired) | AI wide-area motion imagery sensor | Apr 2024 | Production; established Shield AI Australia |
| Hivemind Enterprise | Autonomy developer platform (software product) | Mar 2025 | Production; sold to OEMs and governments |
| X-BAT | Autonomous VTOL fighter jet | Unveiled Oct 2025 | Development; GE F110-GE-129 engine, VTOL demos targeted 2026 |
| Aechelon (acquired) | Simulation / synthetic environments | Announced Mar 2026 | Pending; powers Air Force Joint Simulation Environment |
Updated at 2026-03
Shield AI Revenue Trajectory (FY ending March)
FY2023-FY2028 target
Revenue (USD millions, FY ending March)
Updated at 2026-03
Revenue Mix: Hivemind Software vs Hardware/Services
FY2025 (~30% software)-FY2028 target (50% software)
Updated at 2026-03
Shield AI in Defense
Shield AI
$SHIELD-AI
Founded 2015. AI pilot software (Hivemind) for autonomous flight. V-BAT VTOL UAS in service with USMC + USAF SOCOM + Coast Guard. Hivemind enables autonomous F-16 flight (VENOM-AFT program 2024-2025) and CCA pilot software. Series F-3 $240M at $5.3B valuation Mar 2025.
Key Milestones
Mar 2015
Launch
Founded by Brandon Tseng (Navy SEAL), Ryan Tseng, Andrew Reiter in San Diego; Hivemind autonomous flight stack inspired by SEAL combat experience
Sep 2018
Commercial
Nova quadcopter deployed with US special operations for indoor autonomous reconnaissance; first GPS-denied autonomy fielded in combat
Jul 2021
Partnership
Acquires Heron Systems after AlphaDogfight Trials win (Aug 2020): Heron AI agent had defeated USAF F-16 instructor 5-0 in DARPA simulation; integrates dogfighting AI into Hivemind
Nov 2022
Funding
Series E $200M at $2.3B valuation led by Snowpoint Ventures; V-BAT mass production ramp following acquisition of Martin UAV Sep 2021
Apr 2023
Launch
VENOM-AFT (Autonomy Flying Testbed) F-16 program awarded; AFRL/Lockheed Skunk Works Hivemind autonomy integration: pathway to autonomous fighter pairing
Feb 2024
Product
V-BAT Block 20 enters production; gen-3 with extended endurance + payload, USCG operational deployment; Naval Strike Missile pairing tested
Aug 2024
Launch
Wins Replicator Tranche 1 award for V-BAT autonomous teaming; Group 3 UAS scale-out: multi-aircraft Hivemind orchestration deployment
Dec 2024
Commercial
V-BAT used in Ukraine combat operations against Russian targets; first US-built autonomous Group 3 UAS combat-proven in peer conflict
Mar 2025
Funding
Series F-3 $240M at $5.3B valuation led by L3Harris + Hanwha; international expansion accelerates: Korea + India alliance moves
Sep 2025
Milestone
VENOM-AFT F-16 first autonomous flight at Eglin; multi-aircraft team operations using Hivemind; CCA pathway candidate platform
Nov 2025
Product
V-BAT 128 (high-altitude long-endurance variant) operational fielding; SOCOM expanded buy; multi-day endurance + anti-ship payload integrated
Mar 2026
Funding
Series G $1.5B at $12.7B valuation; X-BAT VTOL fighter unveiled: purpose-built autonomous strike platform competing for CCA Increment 2