Shield AI, a startup that makes autonomous drone technology for military applications, is raising $150 million from investors, according to people familiar with the discussions.
The deal values the San Diego-based company at $2.5 billion, said the people, who asked not to be identified discussing private information. A representative for the company didn’t immediately respond to a request for comment.
Shield AI makes software called Hivemind, which is a kind of self-driving pilot for aircraft that doesn’t require communications or GPS, and can be used in situations where enemy forces could otherwise interfere with navigation. The company has previously won US military contracts.
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