Irvine-based robotics startup FieldAI is reportedly set to raise $700 million, potentially pushing its valuation to $10 billion. This financing, if closed, would represent a fivefold increase in its valuation in just over a year, according to a person familiar with the matter. A term sheet for the financing has been signed, though the deal is not yet formally closed. It is not clear which venture capital firm is leading this latest round. FieldAI did not immediately return a request for comment.
Founded in 2023, FieldAI previously announced in August 2025 that it had raised $405 million, reaching a $2 billion valuation. The company has since become a significant player in the evolving robotics field. Its earlier financial backers include Bill Gates, Bezos Expeditions, Emerson Collective, Khosla Ventures, Canaan Partners, NVentures, Prysm Capital, and Singapore-based Temasek.
FieldAI has been actively expanding its partnerships in the growing robotics market. The company announced last month a collaboration with Caterpillar Inc., a leading manufacturer of construction and mining equipment. This partnership aims to integrate artificial intelligence and automation into construction sites and manufacturing environments. Initially, the focus will be on autonomous inspections and site scanning to develop digital twins, which are virtual replicas of physical sites.
Caterpillar indicated that this technology is intended to generate operational insights, provide support, and lead to "safer and more efficient" processes. The collaboration gives FieldAI a strategic foothold with Caterpillar, which also produces off-highway engines, industrial gas turbines, and diesel-electric locomotives. Caterpillar is expanding its use of physical AI and robotics in challenging environments like jobsites and factories, where changing conditions can complicate traditional automation. The collaboration also involves NVIDIA technologies, including NVIDIA Omniverse, for building high-fidelity digital twins from operational data.
FieldAI is developing what it describes as a "general-purpose robot brain" designed to operate across diverse tasks and environments. Its Field Foundation Models are intended to enable robots to comprehend dynamic surroundings and make real-time decisions. The company emphasizes that its software is hardware-agnostic, allowing it to function across various mobile robot platforms. Given the constantly changing nature of construction sites, FieldAI has made construction an early priority for its technological applications. Earlier this year, the company introduced product lines aimed at embedding autonomy into construction workflows, specifically for equipment such as excavators, loaders, haul trucks, and dozers.
Reflecting its growth, FieldAI is currently hiring for approximately 100 positions. These roles span a wide range, including AI and robotics research, software and infrastructure development, product development, and business operations, according to information on its website.
