FieldAI signs term sheet for $700M round at $10B valuation

Why it matters

FieldAI's proposed $700 million round prices its robot software alongside the best-funded physical-AI startups, while the reported customer figure combines revenue with contracts rather than recurring revenue.

FieldAI has signed a term sheet for a $700 million financing at a $10 billion valuation, according to Business Insider's report, which cited a person familiar with the deal. The financing has not formally closed, and the report did not identify a lead investor. The proposed valuation would be five times FieldAI's $2 billion valuation in 2025.

The valuation reflects a bet that software for robots operating in unpredictable places can become a valuable layer across different machines and industries. FieldAI is developing AI software to help robots navigate and work autonomously, including in settings where maps or fixed routes are unreliable. Its models have been used with platforms ranging from quadrupeds and humanoids to wheeled robots and passenger-scale vehicles, according to FieldAI's 2025 funding announcement.

Founder and CEO Ali Agha came to the business after seven years at NASA's Jet Propulsion Laboratory, where he led autonomy work on programs including the DARPA Subterranean Challenge and off-road robotics. The CoSTAR team he led won the urban circuit of the 2020 DARPA Subterranean Challenge. That background shapes FieldAI's focus: robots have to make decisions in physical environments that change, rather than repeat a task in a carefully controlled demonstration.

FieldAI calls its software Field Foundation Models. The company says the models are designed to account for uncertainty and risk, and to let robots operate without prior maps, GPS or predefined paths. In February, FieldAI described deployments with Boston Dynamics' Spot robot at construction sites, where shifting layouts can make static maps less useful. FieldAI is targeting industrial work such as construction, energy, manufacturing and inspection, rather than selling a single robot design.

On August 20th, 2025, FieldAI announced $405 million raised across two rounds. Its named backers included Bezos Expeditions, BHP Ventures, Canaan Partners, Emerson Collective, Intel Capital, Khosla Ventures, NVentures, Prysm Capital and Temasek; Gates Frontier and Samsung were among its previous investors. The 2025 announcement described deployments across hundreds of industrial environments, though that figure came from the company. The new financing would be substantially larger than the $405 million disclosed then, if the term sheet closes on the reported terms.

Business Insider reported that FieldAI has added at least $35 million in revenue and customer contracts since June, bringing the combined figure above $135 million, according to its source. The figure combines revenue with contract value, so it does not establish how much FieldAI has recognized as revenue, how much is recurring, or how much remains to be delivered. The same report said FieldAI had more than 30 customers. The reported total does not establish annual recurring revenue, since it combines revenue with contract value.

The proposed valuation would bring FieldAI closer to two other heavily funded robotics-AI startups. Physical Intelligence was reported to be in talks for financing at a valuation above $11 billion in March; Skild AI announced a $1.4 billion round in January at a valuation above $14 billion. The companies differ in their approaches, but each is seeking to build AI that can work across tasks and robot types. FieldAI's industrial deployments give its pitch a concrete setting, while the valuation assumes those deployments can extend into a much larger business.

The financing remains a term-sheet deal. The report does not establish its final terms or who will lead it. The $10 billion valuation is the reported price investors are negotiating around, not a completed transaction.