FieldAI secures $700 million funding, valued at $10 billion

FieldAI, a robotics company founded in 2023, has raised $700 million in funding, pushing its post-money valuation to $10 billion. The company is developing a 'general-purpose brain' for robots, aiming to enable various machines to operate autonomously in unpredictable environments. This round of funding, led by undisclosed investors, follows a previous valuation of $2 billion and a $400 million raise last year. The CEO, Ali Agha, noted rapid business growth in recent months. FieldAI's clients include construction firms, data center operators, and defense companies, with over 30 partners. The company has secured more than $1.35 billion in revenue and contracts, including over $100 million in recent months. FieldAI competes with firms like Physical Intelligence and Skild AI, which are valued at $11 billion and $14 billion respectively. Investors are betting on FieldAI's ability to create reliable AI systems for real-world applications, a challenge that has long plagued robotics companies. FieldAI operates in California and the San Francisco Bay Area, having recruited talent from Google DeepMind, Tesla, NVIDIA, and Boston Dynamics. The firm is seen as a key player in the growing field of 'physical AI,' where AI systems interact with the physical world.