FieldAI Raises $700 Million at $10 Billion Valuation, More Than Quadrupling Worth in a Year

FieldAI, a robotics startup developing a "universal general-purpose brain" for machines, has reportedly raised $700 million in funding at a $10 billion valuation. According to a Friday Business Insider report citing a person familiar with the deal, this valuation represents a more than fourfold increase from the company's $2 billion valuation achieved in the previous year.

The funding round is intended to support the California-based company's efforts to build general robot intelligence for the physical world. The report indicates that FieldAI has added at least $35 million in revenue and customer contracts since June, bringing the total to more than $135 million. CEO Ali Agha stated in June that the company has seen "very, very fast growth in the last several months."

Founded in 2023, FieldAI is developing technology designed to power humanoid robots, robot dogs, drones, and industrial rovers. The company previously secured $405 million across two funding rounds at a $2 billion valuation last year. Backers for FieldAI include NVentures, the venture arm of Nvidia Corp. (NASDAQ: NVDA), Intel Corp.'s (NASDAQ: INTC) Intel Capital, Bezos Expeditions, Gates Frontier, Samsung, Khosla Ventures, Temasek, Prysm Capital, and Canaan Partners.

The new valuation places FieldAI in a competitive landscape with other physical AI startups. Physical Intelligence is valued at roughly $11 billion, while Skild AI is valued at more than $14 billion. Large technology companies are also entering the sector, with Meta Platforms Inc. (NASDAQ: META) buying humanoid robotics startup Assured Robot Intelligence for an undisclosed sum in May.

The valuation is viewed as a bet on the company's ability to make its robot brain function in unpredictable real-world settings. Citrini Research noted in a September report that while basic humanoid locomotion is considered a solved problem, complex dexterity and "broad generalizability" remain significant challenges. Nvidia CEO Jensen Huang has projected a $50 trillion total addressable market for humanoid robots and physical AI.