The Series G round is led by Advent International and co-led by JPMorganChase’s Strategic Investment Group under its Security and Resiliency Initiative. Additional participation comes from existing investors, while funds managed by Blackstone are providing preferred equity and committing further capital for future growth.
A portion of the proceeds will support the planned acquisition of Aechelon, a company known for high-fidelity simulation and synthetic reality technologies. Its systems are used by the U.S. military and allies for pilot training and testing advanced aircraft and autonomous systems, including work tied to the Pentagon’s Joint Simulation Environment.
Company officials said the combined investment and acquisition reflect a broader shift toward software-driven defense capabilities. They emphasized the growing role of simulation and real-world data in developing advanced military systems.
“The acquisition of Aechelon will accelerate the work we are doing with Hivemind, particularly in simulation like the Department of War’s JSE. It’s an incredible company with a fantastic team and a leading technology that plays a role in how we think about the AI pilot development lifecycle. It will also help advance our Hivemind Foundation Model for Defense, which is trained in simulation and continuously refined through real-world operations,” said Gary Steele.
Advent International Chairman David Mussafer said the firm sees strong growth potential in Shield AI’s technology portfolio. “Shield AI is a rare asset with the potential to deliver strong growth over the coming years. V-BAT is rapidly scaling and delivering outcomes for militaries around the world. X-BAT is a huge opportunity to redefine air power in the fighter jet market. Hivemind is one of the most experienced and proven AI pilots in the world. We couldn’t be more excited to partner with the Shield AI team.”
JPMorganChase executive Todd Combs said the investment aligns with efforts to support defense innovation. “Through our Security and Resiliency Initiative, we are investing in generational companies who are poised to accelerate innovation, reinforce the defense industrial base, and help advance and scale mission-critical solutions.”
“JPMorganChase is proud to support the AI pilots and next-generation autonomous aircraft that will strengthen global resilience and national security,” he added. Officials said the funding will also support development phases of Shield AI’s X-BAT program.
Following completion of the deal, Aechelon will continue to operate independently within Shield AI. Its co-founder and CEO Ignacio Sanz-Pastor will report directly to Gary Steele and remain responsible for the company’s product and customer roadmap.
“We’re thrilled to continue our work and serve our customers under Shield AI. Their vision of a future filled with autonomous systems protecting service members and civilians, and deterring conflict, is inspirational. I couldn’t think of a better new home for the Aechelon team than Shield AI,” said Sanz-Pastor.
Shield AI said its Hivemind software has already been used to pilot 26 types of vehicles, including fighter jets, unmanned systems, and ground platforms. The acquisition is expected to close following regulatory approvals.
