Shield AI Company Profile, Products, Employees and Funding
Shield AI is a privately held defence technology company based in San Diego, California, that builds the Hivemind AI pilot software and the V-BAT (MQ-35A) vertical-takeoff drone, and is developing the X-BAT uncrewed fighter. It was founded in 2015 by Brandon Tseng, a former Navy SEAL, his brother Ryan Tseng and Andrew Reiter.
Shield AI raised $1.5 billion in a Series G round at a $12.7 billion post-money valuation in March 2026, plus $500 million of preferred equity from Blackstone-managed funds. Wikipedia puts its workforce at about 1,500 in March 2026, and the company has told reporters it expects revenue above $540 million in 2026. Its customers include the US Navy, Marine Corps and Coast Guard, Japan and the Netherlands.
What Does Shield AI Do?
The company sells autonomy software and the aircraft that carry it. Its own description is that it develops AI pilots and autonomous systems for aircraft, drones, ships, satellites and submarines (Shield AI). The core product is Hivemind, an autonomy stack that lets uncrewed aircraft fly missions and team with each other when GPS and radio links are jammed.
Its second business is hardware. The V-BAT, inherited from the 2021 purchase of Martin UAV, is a ducted-fan drone that takes off and lands vertically from ships and small sites. The X-BAT is a larger, AI-piloted strike aircraft announced in October 2025.
| Item | Detail |
|---|---|
| Headquarters | San Diego, California |
| Founded | 2015 |
| Founders | Brandon Tseng, Ryan Tseng, Andrew Reiter |
| Chief executive | Gary Steele (since 12 March 2025, per Wikipedia) |
| Cofounder and president | Brandon Tseng |
| Chief financial officer | Kingsley Afemikhe (per Fortune) |
| Employees | About 1,500 (March 2026, Wikipedia) |
| Revenue | More than $540 million expected for 2026, over 80% growth (company projection, Fortune) |
| Ownership | Private, venture and growth-equity backed |
| Offices | San Diego, Dallas, Washington DC, Abu Dhabi, Kyiv, Melbourne (2025 company release) |
| Products | Hivemind, V-BAT (MQ-35A), X-BAT, Nova, Aechelon simulation software |
What Are Shield AI’s Main Products?
| Product | Type | Notes |
|---|---|---|
| Hivemind | AI pilot and mission autonomy software | Company says it has flown 26 vehicle classes; used on F-16 derivative X-62, MQ-20 Avenger, Anduril YFQ-44A, Airbus H145 and others |
| V-BAT (MQ-35A) | Group 3 vertical-takeoff drone | Length 3.8 m, wingspan 2.9 m, maximum takeoff weight 75 kg, 12+ hours endurance (Block 5.3), ceiling 5,500 m |
| X-BAT | AI-piloted vertical-takeoff strike aircraft | Company cites range over 2,000 nm and ceiling over 50,000 ft; F110 engine; first flight planned 2026 |
| Nova | Small lidar-equipped quadcopter | Early product; used in Middle East operations from 2018 |
| Aechelon software | Simulation and synthetic environments | Acquired in June 2026 |
Hivemind has been run on aircraft made by other companies, including the General Atomics MQ-20 Avenger, the Kratos BQM-177 target drone and the HII ROMULUS maritime vessel, according to the Hivemind page. That platform-agnostic approach is the core of its pitch.
How Does the V-BAT Work and Who Flies It?
The V-BAT is a single-engine tail-sitter that rests on its tail, launches vertically and needs no runway or catapult. Its heavy-fuel engine can burn JP-5, the fuel used on US Navy ships. The Navy awarded a prototyping contract in 2021, and the aircraft has deployed with Marine expeditionary units, including aboard USS Portland with the 11th MEU in 2021 (Wikipedia).
| Customer | Detail | Date |
|---|---|---|
| US Coast Guard | $198,106,876 indefinite-delivery contract for contractor-owned, contractor-operated ISR services (Seapower) | 1 July 2024 |
| US Navy and Marine Corps | Navy prototyping contract; Marine expeditionary unit deployments | 2021 |
| Japan Maritime Self-Defense Force | Direct commercial sale for its first ship-based ISR aircraft, quantity undisclosed (Breaking Defense); first delivery reported December 2025 | January 2025 |
| Royal Netherlands Navy and Marine Corps | Eight V-BAT systems (Naval Technology) | July 2025 |
| Other operators | Colombia, Greece, Romania, Indonesia and Ukraine listed by Wikipedia | 2024 to 2026 |
V-BAT production is in Dallas, Texas, and the company announced a joint venture with India’s JSW Group to build it in India.
Shield AI Funding Rounds and Valuation
| Date | Round | Valuation |
|---|---|---|
| 2015 | $100,000 seed from friends and family (Wikipedia) | — |
| November 2021 | Funding round (Wikipedia) | Over $1 billion |
| June 2022 | $165 million Series E | $2.3 billion |
| October 2023 | $200 million, co-led by US Innovative Technology Fund and Riot Ventures | $2.7 billion |
| 6 March 2025 | $240 million Series F-1; investors include L3Harris, Hanwha Asset Management, Andreessen Horowitz | $5.3 billion |
| 26 March 2026 | $1.5 billion Series G plus $500 million preferred equity and $250 million delayed-draw facility from Blackstone-managed funds | $12.7 billion (post-money) |
Advent International led the Series G, with the strategic investment group of JPMorganChase’s Security and Resiliency Initiative co-leading. Snowpoint Ventures, InnovationX, Riot Ventures, Disruptive and Apandion also took part, according to the company release. Advent chairman David Mussafer joined the board, and JPMorganChase’s Todd Combs became a board observer.
Fortune reported that the valuation more than doubled from $5.6 billion. Shield AI has not listed shares, so no public share price or audited financial results exist. Revenue numbers come from company statements to the press.
Which Companies Has Shield AI Acquired?
Shield AI bought Heron Systems and Martin UAV in 2021, the first supplying the AI pilot team and the second the V-BAT. In March 2026 it agreed to acquire Aechelon Technology, a maker of high-fidelity visual simulation used in the Pentagon’s Joint Simulation Environment. The deal closed on 22 June 2026, and Aechelon’s co-founder and CEO Ignacio Sanz-Pastor reports to Gary Steele (company release).
Recent Developments and Competitors
In February 2026 the US Air Force picked Shield AI as a mission autonomy provider for its Collaborative Combat Aircraft programme, and Hivemind flew on Anduril’s YFQ-44A later that month. On 17 June 2026 the company announced a production contract to put Hivemind on the CCA fleet; the release does not give a value.
On 8 September 2026 Shield AI, Poland’s PGZ and its WZL-2 aviation works signed a five-year letter of intent covering X-BAT design, production and sustainment in Poland, according to the company. Among US drone makers, readers can compare the profiles of AeroVironment and Kratos.
Shield AI History Timeline
| Year | Event |
|---|---|
| 2015 | Founded in San Diego |
| 2016 | First Defense Innovation Unit autonomy contract (Wikipedia) |
| 2018 | Nova used in Middle East operations; company says first AI pilot deployed in combat |
| 2021 | Buys Heron Systems and Martin UAV; Navy V-BAT prototyping contract |
| 2022 | Company says it flew the first AI-piloted F-16 |
| 2023 | Company says it flew the first AI dogfight |
| 2024 | Coast Guard $198 million V-BAT contract |
| 2025 | Gary Steele becomes CEO (12 March); X-BAT unveiled (October) |
| 2026 | Series G at $12.7 billion; CCA selection; Aechelon acquisition closed |
Shield AI FAQ
What does Shield AI do?
It develops AI pilot software called Hivemind and builds the V-BAT drone and the X-BAT uncrewed fighter for military customers.
Where is Shield AI headquartered?
San Diego, California. It was founded there in 2015 and also has offices in Dallas, Washington DC, Abu Dhabi, Kyiv and Melbourne.
Who founded Shield AI?
Brandon Tseng, a former Navy SEAL, Ryan Tseng and Andrew Reiter. Gary Steele has been CEO since March 2025.
How many employees does Shield AI have?
About 1,500 in March 2026, according to Wikipedia.
How much is Shield AI worth?
$12.7 billion post-money after its March 2026 Series G. The company is private.
Who invests in Shield AI?
Advent International led the Series G. Other backers include JPMorganChase, Blackstone-managed funds, Andreessen Horowitz, L3Harris and Hanwha Asset Management.
What is the MQ-35A?
The military designation of the V-BAT, a vertical-takeoff drone for surveillance and reconnaissance.
Which navies use the V-BAT?
The US Navy, Marine Corps and Coast Guard, Japan’s Maritime Self-Defense Force and the Royal Netherlands Navy, among others.
- Shield AI – Series G and Aechelon: shield.ai; completion: shield.ai
- Shield AI – Series F-1 release: shield.ai; CCA production award: shield.ai
- Shield AI – X-BAT, Poland letter of intent, Hivemind, About
- Fortune – Shield AI revenue and Series G: fortune.com
- Breaking Defense – Japan V-BAT deal: breakingdefense.com; Naval Technology: naval-technology.com; Seapower: seapowermagazine.org
- Wikipedia – Shield AI, Shield AI MQ-35 V-BAT
