FieldAI Signs Term Sheet to Raise $700M at $10B Valuation

FieldAI is preparing to raise $700 million in a new financing round that values the robotics software company at $10 billion, according to reporting by The Next Web citing details first reported by Business Insider. A term sheet has been signed, though the funding round has not yet formally closed. FieldAI did not respond to requests for comment.

The transaction represents a fivefold valuation jump from the $2 billion mark the startup established just over a year ago. Founded in 2023, the California-based company manufactures no physical hardware. Instead, it develops what it describes as a universal general-purpose brain engineered to operate across varied form factors, including humanoids, quadrupeds, autonomous drones, and industrial rovers. Its commercial customer base spans construction companies, data centre operators, and defence contractors.

FieldAI's financial metrics have expanded alongside investor interest. Total revenue and customer contracts have surpassed $135 million across more than 30 customers, marking an increase of at least $35 million since June. By comparison, competitor Skild AI reported $100 million in run-rate revenue last month on a stricter accounting measure.

The round underscores a growing divergence between the US and European robotics sectors. American venture capital has heavily concentrated in hardware-agnostic software infrastructure: Skild AI is currently valued at $14 billion, while Physical Intelligence is valued near $11 billion. Together with FieldAI, the three pure-play software developers carry roughly $35 billion in aggregate valuation.

In contrast, European capital has largely backed physical machine builders. Germany's NEURA raised up to $1.4 billion in June at an approximate $7 billion valuation with backing from Nvidia, Amazon, Bosch, Tether, and the European Investment Bank. London-based Humanoid raised $152 million in July at a $1.35 billion valuation, contracting Bosch to manufacture its wheeled machines. European software-only competitors remain smaller; Genesis AI, which splits roughly 60 employees across Paris, London, and the Bay Area, was reported in July to be raising $500 million at a $3 billion valuation.

Because FieldAI builds no machines, every hardware developer represents a prospective customer. However, software deployments in Europe will soon face a shifting regulatory environment. The European Union's Machinery Regulation takes effect on January 20, 2027, introducing explicit compliance mandates for machinery with self-evolving behaviour. To date, no robotics model in this class has undergone evaluation under the upcoming rules.