Robotics startup FieldAI is raising $700 million at a $10 billion valuation, Business Insider reported. A person familiar with the deal said the company had signed a term sheet, but financing may not have formally closed.
The company builds software intended to power different kinds of robots in unpredictable environments. Its customers include construction firms, data center operators and defense companies.
Robotics Startup FieldAI Has Signed A Financing Term Sheet
The proposed financing follows a previous valuation of $2 billion. FieldAI raised over $400 million last year from investors including Jeff Bezos’ family office, Emerson Collective and Khosla Ventures.
Emerson Collective is Laurene Powell Jobs’ organization. The report did not identify which venture capital firm led the latest round.
FieldAI did not respond to a request for comment, according to Business Insider’s funding report. The reported term sheet leaves the round’s formal completion uncertain.
Related reporting examines business adoption of AI. FieldAI’s funding story concerns software that controls physical machines rather than a general digital-adoption program.
Revenue And Customer Contracts Exceed $135 Million
Since June, FieldAI has added at least $35 million in revenue and customer contracts. The person familiar with the deal said the total now exceeds $135 million.
Business Insider previously reported more than $100 million in revenue and customer contracts across more than 30 customers. Those figures combine revenue and contracts; the report does not present them as revenue alone.
Founded in 2023, robotics startup FieldAI describes its technology as a “universal general-purpose brain.” The company says its software is designed to work across robots, tasks and environments.
The machines can range from humanoids and robot dogs to drones and industrial rovers. The software is intended to enable autonomous operation in unpredictable settings.
Related coverage examines a founder’s assessment of AI coding agents. That separate discussion concerns software engineering rather than FieldAI’s robot-control technology.
Investors Back Robot Software For Unpredictable Settings
The report describes the financing as part of investor interest in physical AI. These systems can act in the real world.
FieldAI’s reported valuation would move closer to those of Physical Intelligence and Skild AI. The report values Physical Intelligence at roughly $11 billion and Skild AI at more than $14 billion.
Making a robot brain work in tricky real-world settings remains a challenge, the report notes. It describes that task as harder than training a machine for one controlled-environment activity.
“We have seen very, very fast growth in the last several months,” CEO Ali Agha told Business Insider in June.
The company has headquarters in Irvine, California, and the Bay Area. It has hired talent from Google DeepMind, Tesla, Nvidia and Boston Dynamics.
Related coverage explores defense technology and regional business development. For robotics startup FieldAI, the latest reported funding still awaits confirmation that the financing has formally closed.