Press Release
Press Release
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
11.06.23
Pillsbury advised defense technology company and long-time Pillsbury client Shield AI in its recent oversubscribed $200 million Series F funding round—boosting the company’s valuation to $2.7 billion.
The funding was led by U.S. Innovative Technology Fund and co-led by Riot Ventures, with participation from Cathie Wood’s ARK Invest and returning investors Disruptive and Snowpoint.
Shield AI, which recently partnered with Boeing Company, has been working to develop an artificial intelligence, self-driving pilot with their Hivemind software. The aircraft would not require GPS or communications and may be used in a hostile environment where enemy forces could interfere with navigation.
The announcement follows the company’s recent launch of its V-BAT Teams product, which can complete missions from start to finish without the need for an operator or pilot, according to a company press release.
Click here to read the official press release.
The San Diego-based Pillsbury deal team included Corporate partners Christian Salaman and Jason Stirling and associates Kit Ryan and Alexander Graham.