Shield AI

Image: Echodyne

Shield AI agrees to buy counter-drone radar maker Echodyne in a deal worth up to $5.3 billion

To pay for it, Shield is raising $2.5 billion, including a $1 billion Series H at a $28.8 billion valuation. Echodyne, a 2014 spinout of Intellectual Ventures, raised about $200 million over its life.