Although San Diego had fewer deals this quarter, the fundraising rounds and exits it recorded were big
Startups in San Diego County raised about $1.14 billion during the third quarter ending Sept. 30, according to data from the Venture Monitor report from research firm PitchBook and the National Venture Capital Association. That’s nearly a 10 percent increase from the same period last year. The region saw a total of 50 deals during the third quarter — a five-year low in terms of deal activity. In the same quarter of last year, there were 78 deals. .
Shield AI was founded in 2015 by two brothers, Ryan Tseng an experienced tech-entrepreneur and Brandon Tseng, who served seven years in the U.S. Navy. The third co-founder is Andrew Reiter, who worked on one of Draper Lab’s robotic guidance systems. They developed software that provides planning, mapping and other features that enable military aircraft and its V-BAT drones to conduct maneuvers autonomously.
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