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HISTORICAL P100 / #64

Shield AI

Defense Tech · United States

Historical ranking valuation$5.30BSource snapshot: Jun 19, 2026
Financing events20
Named participants20
Captables stories2

Disclosed primary funding in this record

$3B

Sum of non-overlapping disclosed USD amounts in confirmed primary financing entries in this record, including separately labeled equity components; not verified lifetime funding. Excludes amounts already included in a later round, announced, reported, database-only, debt, secondary and unclassified events.

13 confirmed primary rounds with disclosed USD amounts · Record through 2026-09-25
THE BUSINESS

Get to know Shield AI.

Shield AI develops autonomous aircraft and the Hivemind mission-autonomy software used in contested environments. Its own materials describe aircraft programs and software intended to operate when communications or manual control are limited.

Shield AI autonomy overview ↗Source checked Sep 24, 2026

Valuation history

Valuations reported at the time of each round.

$12.7B post-moneySeries G · ConfirmedSource ↗
$12.7B post-money package valuationStrategic preferred equity (Series G package) · ConfirmedSource ↗
$5.3BSeries F-1 strategic financing · ConfirmedSource ↗
$2.7BSeries F · ConfirmedSource ↗
$2.3BSeries E (initial equity component) · ConfirmedSource ↗
$2.3B package valuationSeries E (initial debt component) · ConfirmedSource ↗

Funding history

Funding rounds, debt and other financing events.

17sourced events · record as of 2026-09-25

Issuer-confirmed rounds are separated from database-only entries. The Series G package closed by June 22, 2026; March 26 is its announcement date, not a known closing date. The database-listed August 2026 Series H has not been issuer-corroborated. A May 2026 SEC Form D reports $591,806,870 of equity sold in an offering with first sale February 7, 2025, but does not say how it overlaps announced Series F-1 or G; it is not added to their totals. Shield AI's own August 2019 post confirms a Series B and names two new investors; its August 14 SEC Form D independently reports $22.2M equity securities sold out of a $25M offering as of filing, without proving the final round total. SEC filings also disclose issuer equity sold in 2016, 2018 and October 2020 without assigning Seed, A-extension or C-tranche series labels or naming buyers. The October 2020 sold-to-date amount may be part of the subsequently announced $90M mixed equity/debt Series C package, which is not added as a second primary-equity amount. Components of mixed equity-and-debt packages are not separate rounds.

Mar 26, 2026LATEST SOURCED
primary

Series G

Advent International (lead) · JPMorganChase Strategic Investment Group (co-lead) (lead) · Snowpoint Ventures · InnovationX · Riot Ventures · Disruptive · Apandion

Announced March 26; Shield AI confirmed the $2B package had closed by June 22, but did not give an exact closing day. Excludes Blackstone's separate $500M preferred equity row and its additional $250M delayed-draw commitment.

Amount$1.5B Series G equityValuation$12.7B post-money
Mar 26, 202616
primary

Strategic preferred equity (Series G package)

Blackstone-managed funds (lead)

Separate fixed-return preferred-equity component of the same $2B package, not another $500M on top. Closed by June 22; exact close day not disclosed. The additional $250M delayed-draw facility is a commitment, not counted as raised capital.

Amount$500M preferred equityValuation$12.7B post-money package valuation
Mar 6, 202515
primary

Series F-1 strategic financing

L3Harris · Hanwha Asset Management · Andreessen Horowitz · U.S. Innovative Technology · Washington Harbour

Amount$240MValuation$5.3B
Feb 7, 202514
other

February 2025 first-sale equity offering (series and overlap unresolved)

Investors undisclosed

Shield AI's Form D reports an equity offering with February 7, 2025 first sale, $591,806,870 offered and the same amount sold as of filing. It does not name a financing series, investors or legal final close. This could overlap the issuer's March 2025 Series F-1 or March 2026 Series G announcements; it is a non-additive filing observation until reconciled and must not be treated as a separate $591.8M round or current shareholder roster.

Amount$591,806,870 equity sold as of May 1, 2026 Form DValuationUndisclosed
Dec 29, 202313
debt

Venture Debt

Hercules Capital (lead)

Shield AI announced $200M in debt from Hercules Capital on December 29; this is part of the $500M Series F financing package, not equity or a separate additional $500M round. The announcement does not establish the debt funding date.

Amount$200MValuationUndisclosed
Dec 29, 202312
primary

Series F (extension)

Investors undisclosed

Shield AI announced $100M additional equity at the Series F price on December 29, incremental to $200M of Series F equity that it says closed in November. The announcement does not establish this extension's separate close date.

Amount$100M additional equityValuationUndisclosed
Oct 31, 202311
primary

Series F

U.S. Innovative Technology Fund (USIT) (lead) · Riot Ventures (co-lead) (lead) · ARK Invest · Disruptive · Snowpoint Ventures

Announced October 31; Shield AI's December 29 expansion says the initial $200M equity closed in November. October 31 is not asserted as the legal closing date.

Amount$200MValuation$2.7B
Dec 14, 202210
primary

Series E (extension)

U.S. Innovative Technology Fund (USIT) (lead)

Amount$60M additional equity (Series E total $225M including debt)ValuationUndisclosed
Jun 9, 202209
primary

Series E (initial equity component)

Snowpoint Ventures (lead) · Riot Ventures · Disruptive · Homebrew

Equity portion only. The $75M debt component appears separately; the $165M package headline must not be added again.

Amount$90M equity (of $165M initial package)Valuation$2.3B
Jun 9, 202208
debt

Series E (initial debt component)

Investors undisclosed

Debt portion only. Lender was not named in the issuer release. The other $90M of the package is equity and appears separately.

Amount$75M debt (of $165M initial package)Valuation$2.3B package valuation
Aug 24, 202107
primary

Series D

Disruptive (lead) · Point72 Ventures

$210M equity raised; issuer projected another $75M debt and $15M equity, but did not report those projected amounts as secured.

Amount$210MValuationUndisclosed
Feb 23, 202106
other

Series C

Point72 Ventures (lead)

Issuer did not disclose the equity/debt split. The $90M package is shown once and excluded from exact primary-equity subtotals.

Amount$90M combined equity and debtValuationUndisclosed
Oct 27, 202005
primary

October 2020 equity offering (possible Series C component)

Investors undisclosed

The issuer Form D identifies equity securities, October 27 first sale, $75M total offered and $52,949,905 sold as of November 12. It does not label a Series C tranche, identify buyers or prove the final $75M was sold. This may be equity within Shield AI's February 2021 announced $90M equity-and-debt Series C package; that package is shown as unclassified mixed capital and is not added to the confirmed-primary subtotal.

Amount$52,949,905 sold as of November 12 Form D; $75M offeredValuationUndisclosed
Aug 13, 201904
primary

Series B

Silicon Valley Bank · Riot Ventures

The SEC Form D identifies issuer Shield AI Inc, an equity offering with first sale August 13, $25M offered and $22.2M sold as of its August 14 filing. This is sold-to-date disclosure, not an exact final round size or proof every sale settled on August 13. The co-founder announcement (https://shield.ai/on-reaching-new-milestones/) calls this a completed Series B and welcomes Silicon Valley Bank and Riot Ventures, without assigning lead roles or showing current retained stakes.

Amount$22.2M sold as of August 14 Form D; $25M offering ceilingValuationUndisclosed
Dec 20, 201803
primary

December 2018 equity offering (database A-extension label unverified)

Investors undisclosed

The issuer Form D reports an equity offering with December 20 first sale and $10,000,007 sold out of the same total offering amount as of its December 31 filing. The filing does not label a Series A extension, identify buyers or establish present-day retained holdings; December 20 is first-sale date, not a certified final close.

Amount$10,000,007 sold as of December 31 Form DValuationUndisclosed
Apr 3, 201702
primary

Series A

Andreessen Horowitz (lead)

The issuer's April 3 release says $10.5M, not the duplicate $11M database entry. Homebrew, Bloomberg Beta, and Founder Collective are named as other major venture investors, not expressly as participants in this round.

Amount$10.5MValuationUndisclosed
May 19, 201601
primary

May 2016 equity offering (database Seed label unverified)

Investors undisclosed

The issuer Form D reports an equity offering with May 19 first sale and $2,645,121 sold out of the same total offering amount as of its May 31 filing. It does not assign a Seed label or name the buyers; the earlier pooled database roster and rounded $2.65M figure are not treated as exact filing facts.

Amount$2,645,121 sold as of May 31 Form DValuationUndisclosed
Unverified database leads (3)

These database claims have not been independently verified and are excluded from the sourced-event count.

Aug 10, 2026UNVERIFIED
primary

Series H

Investor participation not independently verified

No issuer announcement or closing confirmation located; investor list and $400M amount remain database-only.

Amount$400MValuationUndisclosed
Feb 2021UNVERIFIED
debt

Conventional Debt

Investor participation not independently verified

AmountUndisclosedValuationUndisclosed
2015UNVERIFIED
primary

Angel / Pre-Seed

Investor participation not independently verified

AmountUSD 600,000ValuationUndisclosed

Financing participants

Investors, lenders and other parties named in funding announcements.

Advent International

Series G · Mar 26, 2026 · Lead participant · primary · Confirmed · Confirmed source ↗

JPMorganChase Strategic Investment Group (co-lead)

Series G · Mar 26, 2026 · Lead participant · primary · Confirmed · Confirmed source ↗

Snowpoint Ventures

Series G · Mar 26, 2026 · Participant · primary · Confirmed · Confirmed source ↗

Series F · Oct 31, 2023 · Participant · primary · Confirmed · Confirmed source ↗

Series E (initial equity component) · Jun 9, 2022 · Lead participant · primary · Confirmed · Confirmed source ↗

Riot Ventures

Series G · Mar 26, 2026 · Participant · primary · Confirmed · Confirmed source ↗

Series E (initial equity component) · Jun 9, 2022 · Participant · primary · Confirmed · Confirmed source ↗

Series B · Aug 13, 2019 · Participant · primary · Confirmed · Confirmed source ↗

Blackstone-managed funds

Strategic preferred equity (Series G package) · Mar 26, 2026 · Lead participant · primary · Confirmed · Confirmed source ↗

L3Harris

Series F-1 strategic financing · Mar 6, 2025 · Participant · primary · Confirmed · Confirmed source ↗

Hanwha Asset Management

Series F-1 strategic financing · Mar 6, 2025 · Participant · primary · Confirmed · Confirmed source ↗

Andreessen Horowitz

Series F-1 strategic financing · Mar 6, 2025 · Participant · primary · Confirmed · Confirmed source ↗

Series A · Apr 3, 2017 · Lead participant · primary · Confirmed · Confirmed source ↗

U.S. Innovative Technology

Series F-1 strategic financing · Mar 6, 2025 · Participant · primary · Confirmed · Confirmed source ↗

Washington Harbour

Series F-1 strategic financing · Mar 6, 2025 · Participant · primary · Confirmed · Confirmed source ↗

Hercules Capital

Venture Debt · Dec 29, 2023 · Lead participant · debt · Confirmed · Confirmed source ↗

U.S. Innovative Technology Fund (USIT)

Series F · Oct 31, 2023 · Lead participant · primary · Confirmed · Confirmed source ↗

Series E (extension) · Dec 14, 2022 · Lead participant · primary · Confirmed · Confirmed source ↗

Riot Ventures (co-lead)

Series F · Oct 31, 2023 · Lead participant · primary · Confirmed · Confirmed source ↗

Homebrew

Series E (initial equity component) · Jun 9, 2022 · Participant · primary · Confirmed · Confirmed source ↗

Silicon Valley Bank

Series B · Aug 13, 2019 · Participant · primary · Confirmed · Confirmed source ↗

Ownership evidence

Opening ownership research…

Captables coverage

Deals / Captables

Shield AI secures $150M Navy contract for autonomous X-BAT jet

Shield AI is developing X-BAT, an autonomous fighter jet that can launch vertically from ships, mobile trailers and improvised sites. A $150 million Navy contract supports export-ready features as the unflown aircraft moves toward testing.

Captables Newsroom · 23d ago
Deals / Captables

Shield AI's latest round: $400M Series H

Shield AI's latest public financing record lists $400M in its Series H dated August 10, 2026. Captables places the event in the company's disclosed funding history.

Captables Newsroom · 58d ago