FieldAI is building a general-purpose brain for robots, from humanoids to drones. Investors are betting big on that vision.
The robotics company is raising $700 million at a $10 billion valuation, according to a person familiar with the deal, which would quintuple its valuation in just over a year.
The company was previously valued at $2 billion, after raising over $400 million last year from investors including Jeff Bezos' family office, Laurene Powell Jobs' Emerson Collective, and Khosla Ventures.
It's not clear which venture capital firm led FieldAI's latest round. FieldAI has signed a term sheet for the financing, the person said, meaning the deal has not yet formally closed. FieldAI did not respond to a request for comment.
Founded in 2023, FieldAI is building what it says is a "universal general-purpose brain" designed to work across robots, tasks, and environments. Its software can power machines ranging from humanoids and robot dogs, to drones and industrial rovers, enabling them to operate autonomously in unpredictable environments.
Since June, FieldAI has added at least $35 million in revenue and customer contracts, bringing the total to more than $135 million, the person said. Business Insider previously reported that FieldAI had surpassed $100 million in revenue and customer contracts across more than 30 customers.
The funding is the latest example of investors pouring money into "physical AI" — AI systems that can act in the real world. The round brings FieldAI's valuation closer to its well-funded competitors, including Physical Intelligence, valued at roughly $11 billion, and Skild AI, valued at more than $14 billion.
The valuation is a bet that FieldAI can make its robot brain work in tricky, real-world settings, a challenge that has long tripped up robotics companies. That is far harder than training a machine to perform a single task in a controlled environment.
"We have seen very, very fast growth in the last several months," CEO Ali Agha told Business Insider in June.
The company is headquartered in Irvine, California, and the Bay Area, and has hired talent from Google DeepMind, Tesla, Nvidia, and Boston Dynamics. Its customers include construction firms, data center operators, and defense companies.Have a tip? Contact Rya Jetha via email at [email protected] or Signal at rjetha.07. Use a personal email address and a nonwork device; here's our guide to sharing information securely.