SAN FRANCISCO, United States — Robotics startup FieldAI is set to raise about $700 million at a valuation of $10 billion, marking a sharp increase from the company’s $2 billion valuation last year and highlighting growing investor interest in artificial intelligence systems designed to operate machines in the physical world.
The California based startup has signed a term sheet for the financing, according to a person familiar with the deal. The round had not formally closed as of the latest report, and the identity of the lead investor had not been disclosed.
FieldAI was founded in 2023 and is developing a general purpose AI system designed to control and coordinate different types of robots. Its technology is intended to work across platforms including industrial robots, humanoids, drones and autonomous machines operating in environments that can change unpredictably.
Physical AI attracts growing venture capital
The potential funding round reflects increasing investor interest in what is often described as physical AI, where artificial intelligence systems interact directly with the physical environment rather than remaining limited to software based tasks.
FieldAI does not manufacture its own robots. Instead, it develops software designed to provide the intelligence layer that can operate different robotic platforms. This approach allows the company to potentially serve customers across several industries without having to build and manufacture the underlying hardware itself.
The startup has already secured more than $135 million in revenue and customer contracts, according to the report, with more than 30 customers across sectors including construction, data centers and defense.
Robotics market enters a new investment phase
FieldAI’s potential valuation also shows how quickly investor expectations around robotics AI have changed. The company was valued at $2 billion after raising more than $400 million last year, meaning the reported new valuation would represent a substantial increase in roughly a year.
Other robotics AI startups are also attracting significant private market valuations as investors look beyond conventional generative AI applications toward autonomous systems capable of performing physical tasks.
For startups in the sector, the challenge will be turning strong investor interest into repeatable commercial revenue. Robotics deployments often require integration with existing equipment, specialized testing and significant customer support, making the transition from software development to large scale deployment more complex than conventional cloud software.
FieldAI’s proposed financing therefore provides another indication that venture capital is increasingly targeting AI companies with applications in the physical economy. The company’s ability to expand its customer base and demonstrate reliable performance across different robotic platforms will be important as it moves toward its next stage of growth.
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