Shield AI's $5.3B Echodyne deal tops defense tech week
Shield AI, the San Diego company whose Hivemind software flies armed aircraft without a pilot aboard, agreed on November 5 to acquire radar maker Echodyne in a deal valued at $5.3 billion and is raising $2.5 billion to fund it, the company said in a release. The package centers on a $1 billion Series H at a $28.8 billion post-money valuation, more than double the mark the startup struck in March, and makes it the largest U.S. startup capital event of the week across all sectors. Friday's public tape ran the other way: the listed counter-drone and drone-defense names sold off 10.6% to 14.6%, several times harder than the broad defense index.
Key Takeaways Shield AI agreed on November 5 to buy…
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