Insights
About
About

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

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.

Please Read These Important Legal Notices & Disclosures

The information and material presented in this article is provided for your informational purposes only and does not constitute an offer by Forge Europe GmbH or Forge Europe UK Limited or any of its affiliates to sell, or a solicitation of an offer to buy any securities and may not be used or relied upon in connection with any offer or sale of securities.

If you are a resident or a company registered within Germany this content is for marketing purposes only and on behalf of Forge Europe GmbH of Unter den Linden 38, 10117 Berlin, Germany (registered in the District Court Berlin (Charlottenburg) HRB 240763). Forge Europe GmbH is a tied agent in accordance with §3 (2) WpIG and provides investment brokerage, pursuant to §2 (2) Nr. 3 WpIG, exclusively in the name, on the account and under the liability of Effecta GmbH, Florstadt. If you are resident or a company registered within the United Kingdom or Gibraltar this content is for general marketing purposes only and not a financial promotion on behalf of Forge Europe UK Limited of 10 York Road, London, SE1 7ND, England (registered in England and Wales with company number 14877431). Forge Europe UK Limited is an appointed representative of Kroll Securities Limited which is authorised and regulated by the Financial Conduct Authority (FCA) under Firm Reference Number 466588.

Forge Europe GmbH and, its wholly owned subsidiary, Forge Europe UK Limited (together “Forge Europe”) accept liability to a client as set out in the individual agreement entered into with the client. All other liability to any client is expressly excluded to the fullest extent permitted by applicable laws and regulations. Each Forge Europe company expressly excludes all liability to the fullest extent permitted by applicable laws and regulations to any person who is not a client. You will only be a client if you have entered into a written client agreement with the relevant Forge Europe company. To the extent information about or defining specific terms is provided herein, Forge Europe makes no representations as to its accuracy and has no duty to update such information. Such information is based on experience Forge Europe and its affiliates and the meanings and connotations of terms as Forge Europe typically uses and interprets them. Others may construe such terms differently, and you should do your own research and consult with financial, legal and tax professionals regarding any such concepts included herein.

This article does not constitute an offer to provide investment advice or service. Forge Europe does not (1) advise any member on the merits or prudence of a particular investment or transaction, or (2) assist in the determination of fair value of any security or investment, or (3) provide legal, tax, or transactional advisory services.

Investing in private company securities is not suitable for all investors. An investment in private company securities is highly speculative, involving a high degree of risk, and investors should be prepared to withstand a total loss of your investment. Private company securities are also highly illiquid and there is no guarantee that a market will develop for such securities. Each investment also carries its own specific risks and investors should conduct their own, independent due diligence regarding the investment, including obtaining additional information about the company, opinions, financial projections and legal or investment advice. Accordingly, investing in private company securities is appropriate only for those investors who can tolerate a high degree of risk and do not require a liquid investment. Past performance Is not indicative of future results.

This material may be distributed to, or directed at, only the following persons: (i) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “FP Order”), (ii) high-net-worth entities falling within Article 49(2) of the FP Order, and (iii) any other persons to whom it may otherwise lawfully be communicated (all such persons together being referred to as “FPO Relevant Persons”). Persons who are not FPO Relevant Persons must not act on or rely on this material or any of its contents. Any investment or investment activity to which this material relates is available only to FPO Relevant Persons and will be engaged in only with FPO Relevant Persons. Recipients must not distribute, publish, reproduce, or disclose this material, in whole or in part, to any other person. This content is for the sole use of the intended recipient(s). Any unauthorized review, use, disclosure or distribution is prohibited.