Defense technology startup Shield AI valued at $12.7 billion in latest funding round

Shield AI is raising $2 billion in a new funding round at a $12.7 billion valuation, as the defense technology startup looks to expand its artificial intelligence-powered software amid growing use of autonomous tools during conflicts.

The startup said on Thursday the Series G round was led ‌by Advent ⁠International and ⁠co-led by JPMorganChase’s Strategic Investment Group, with participation from existing investors ​including Snowpoint Ventures and Riot Ventures.