Robotics startup FieldAI is set to raise $700 million at a $10 billion valuation, according to a report from Business Insider.
The financing would increase the Irvine-based company’s valuation fivefold in slightly more than a year, the publication reported Oct. 2, citing a person familiar with the matter.
“It’s not clear which venture capital firm led FieldAI’s latest round,” Business Insider noted.
FieldAI has signed a term sheet
“FieldAI has signed a term sheet for the financing, the person said, meaning the deal has not yet formally closed.”
FieldAI did not return an immediate request for comment.
FieldAI, founded in 2023, has become a prominent player in the increasingly crowded robotics field. The company announced in August 2025 that it had raised $405 million for a $2 billion valuation.
Previously named financial backers include Bill Gates, Bezos Expeditions, Emerson Collective, Khosla Ventures, Canaan Partners, NVentures, Prysm Capital and Singapore-based Temasek.
Field AI is hiring for approximately 100 positions
Field AI is hiring for approximately 100 positions across a wide range of roles spanning AI and robotics research, software and infrastructure, product development and business operations, according to its website.
Partnerships Include Caterpillar
FieldAI has been expanding its partnerships as it competes in the growing robotics market.
The company said last month that it is partnering with Caterpillar Inc. to bring artificial intelligence and automation onto construction sites and into manufacturing environments.
The collaboration will initially focus on autonomous inspections and site scanning to develop digital twins, or virtual replicas of physical sites. Caterpillar said the technology is intended to generate operational insights and support, as well as “safer and more efficient” processes.
Financial terms were not disclosed.
The partnership gives FieldAI a foothold with Caterpillar,
The partnership gives FieldAI a foothold with Caterpillar, the world’s leading manufacturer of construction and mining equipment.
Irving, Texas-based Caterpillar also makes off-highway diesel and natural-gas engines, industrial gas turbines and diesel-electric locomotives.
The collaboration comes as Caterpillar expands its use of physical AI and robotics at jobsites and factories, where changing conditions can make traditional automation difficult.
Earlier this year, FieldAI introduced several product lines
Earlier this year, FieldAI introduced several product lines designed to embed autonomy into construction workflows, including those involving excavators, loaders, haul trucks and dozers.
FieldAI is developing what it describes as a general-purpose robot “brain” capable of operating across different tasks and environments.
The company’s Field Foundation Models are designed to help robots understand dynamic environments and make decisions in real time. FieldAI says its software is hardware-agnostic, meaning it can operate across different mobile robot platforms.
The collaboration with Caterpillar also involves NVIDIA technologies,
The collaboration with Caterpillar also involves NVIDIA technologies, including NVIDIA Omniverse, to build high-fidelity digital twins from operational data.
Construction is a particularly challenging environment for autonomy because jobsites change constantly as workers, materials and equipment move and structures take shape.
FieldAI has made construction an early focus for its technology.
