FieldAI Inc., a developer of artificial intelligence for robotics, is reportedly raising $700 million in a new funding round. According to reports, this deal could value the startup at $10 billion, which is five times higher than its valuation in August of last year. The company has already signed a preliminary term sheet, though the names of the participating investors remain undisclosed.
The startup's existing investor base includes notable names such as Bezos Expeditions, Intel Capital, and Nvidia's NVentures fund. FieldAI has demonstrated significant financial growth, with revenue and customer contracts exceeding $135 million as of the latest reports, up from $100 million recorded in June. Currently, the company serves over 30 clients across the energy, construction, and public sectors.
FieldAI specializes in navigation models that allow robots to operate without pre-defined maps, GPS, or internet connectivity. Its software enables robots to adjust behavior in real-time to avoid obstacles and hazards. The technology is compatible with various platforms, including autonomous vehicles and humanoid robots, such as the Spot robot from Boston Dynamics, with which the company partnered in March.
The platform also generates digital twins of operational environments by processing data from sensors like lidar and cameras. These digital twins are updated continuously with real-world data, allowing customers to simulate factory floor modifications or train AI models. This approach aims to reduce the manual effort required to set up robotic navigation systems.
