FieldAI, a four-year-old Irvine, California robotics-software startup, has signed a term sheet for a $700 million round at a $10 billion valuation -- roughly five times the $2 billion it was valued at barely a year ago, according to people familiar with the deal. The round has not formally closed, and FieldAI did not respond to a request for comment on the reporting.
The company builds no hardware of its own. Its product is software -- what FieldAI calls a "universal general-purpose brain" -- meant to let a humanoid, a quadruped robot dog, a drone, or an industrial rover operate without a pre-built map of its environment, adjusting automatically as it reads risk from cameras, lidar, and radar. FieldAI partnered with Boston Dynamics in March to run on the Spot platform for industrial-equipment inspection, and sells more broadly to construction, energy, and public-sector customers. The company says revenue plus signed contracts has crossed $135 million across more than 30 customers, up from $100 million as recently as June.
That puts FieldAI in the same bracket as two better-known rivals making an identical bet -- that one foundation model can run many different robot bodies: Physical Intelligence, valued at roughly $11 billion, and Skild AI, valued at $14 billion and reportedly running near a $100 million annualized revenue pace. None of the three has yet shown that a single model generalizes across humanoids, drones, and rovers at production reliability -- the valuations price the architecture, not proof it works at scale.
What FieldAI's reported valuation prices in, per dollar of business on the books
Known backers from FieldAI's earlier rounds include Bezos Expeditions, NVIDIA's venture arm NVentures, and Intel Capital; it isn't yet known which firm, if any, is leading the new round. (A signed term sheet is not a closed round -- the distinction this publication's own figures register tracks separately, since a reported-but-not-closed valuation doesn't qualify as a "closed price" by that register's own definition.)
- FieldAI signed a term sheet for $700 million at a $10 billion valuation, up from $2 billion a year ago.
- The Irvine startup sells a shared robot "brain" for humanoids, robot dogs, drones, and industrial rovers.
- It says revenue plus signed contracts has crossed $135 million across 30-plus customers.
- Caveat: the round has only a signed, non-binding term sheet -- it has not formally closed.