Startup News: Defense tech firm Shield AI attracts additional $300M

Investors are putting their dollars behind Shield AI’s efforts to develop artificial-intelligence pilots for military aircrafts.

In late October, Shield AI announced that it had raised $200 million in an oversubscribed Series F funding round. And in late December, the San Diego-based company announced a $300 million expansion of its Series F round to a total of $500 million. The fresh funding consists of an additional $100 million in equity and $200 million in debt from Hercules Capital.

In a statement accompanying Shield AI’s press release, Brandon Tseng, Shield AI’s president and co-founder said that “the defense and investment communities are seeing the profound impact AI pilots will have on national security and global stability.”

Shield AI’s signature product, Hivemind, is an AI pilot that enables teams of intelligent aircraft to operate and complete missions autonomously. The company, which was founded in 2015, had a valuation of $2.71 billion as of December 2023.

Aqua Security achieves Unicorn status with additional funding

Aqua Security, a company that helps businesses oversee their data in the cloud, recently announced that it has secured an additional $60 million in funding, bringing the company’s valuation to over $1 billion.

According to a company press release issued last week, the new funding was led by new investor Evolution Equity Partners, with additional participation from existing investors Insight Partners, Lightspeed Venture Partners and StepStone Group. The funding, which was an extension of the company’s Series E round, places Aqua’s valuation above $1 billion.

Since its founding in 2015, Aqua Security says that more than 500 companies worldwide have adopted Aqua’s cloud security software. Aqua serves six of the top 10 banks in North America, and six of the top seven banks in Canada, making it the leading cloud security provider for the financial services industry.

Miso Robotics will power world’s first fully autonomous restaurant

Customers at the soon-to-be-opened CaliExpress by Flippy restaurant in Pasadena, Calif. will encounter a novel dining experience. They will get the chance to watch their food being cooked robotically, courtesy of Miso Robotics, a company on the cutting-edge of restaurant robotics.

Last month, Miso Robotics announced that it was partnering with Cali Group, a retail tech company, and PopID, a company that uses biometrics to simplify ordering and payments, to create the new restaurant. 

“Utilizing the most advanced systems in food technology, both grill and fry stations are fully automated, powered by proprietary leading-edge artificial intelligence and robotics,” according to Miso Robotics

These various technologies will enable CaliExpress by Flippy to deliver freshly made burgers based on a wagyu blend at price points competitive with other premium burgers using standard meat. Miso Robotics’ grill robot will grind the high quality beef once the order is placed.

Founded in 2016, Pasadena-based Miso Robotics has a valuation, as of November 2022, of $493 million.