Robotics AI developer FieldAI reportedly raising $700M in funding
FieldAI Inc., a startup that develops artificial intelligence models for robots, is reportedly seeking $700 million in funding. A source told Business Insider today that the round could value the company at $10 billion. That’s five times what FieldAI was worth last August. It’s believed the company has already signed a term sheet, a nonbinding […] The post Robotics AI developer FieldAI reportedly…
FieldAI, a robotics and AI developer, is reportedly seeking $700 million in funding, which could value the company at $10 billion, five times its worth last August. The company has reportedly signed a term sheet for the deal, though the names of investors are not disclosed. FieldAI's investors include Bezos Expeditions, Nvidia Corp.’s NVentures fund, and Intel Capital.
The company's technology allows robots to navigate without the need for maps, GPS, or internet connections, reducing the time and cost involved in robot setup. FieldAI's AI models can automatically adapt to changes in the environment, improving accuracy and reducing the risk of collisions. The company's digital twins, which are continuously updated with real-world sensor data, can be used for testing, training, and virtual simulation of site changes, helping customers make informed decisions before implementing modifications.
FieldAI has surpassed $135 million in contracts this past June and has more than 30 customers across various industries, including construction, energy, and the public sector.
Written by urgent.news from SiliconANGLE's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Robotics startup FieldAI closes new funding round at $10 billion valuation businessinsider.com
