Bill Gates-backed robotics startup Field AI raised a record $405 million in two funding rounds, with some of the biggest names in technology and venture capital investing. The most recent round, which was led by Nvidia's venture capital division NVentures and Jeff Bezos' family office Bezos Expeditions, now values the two-year-old firm at $2 billion, a person close to the deal said.
The California startup firm is itself a leading edge of the next era in robotics technology. Founder and CEO Ali Agha told CNBC that the firm is experiencing an "aha moment" because robotics software and hardware are finally converging at a tipping point. "We are expanding," Agha said. "This funding announcement is to keep pace with the customer demand."
Celeb investors back Field AI
The later rounds of funding were over-subscribed, testifying to investor confidence. Apart from NVentures and Bezos Expeditions, Khosla Ventures, Temasek, Canaan Partners, and Intel Capital are also investors on the list. Interestingly, Samsung and Gates Frontier, Bill Gates' investment fund, had also invested in the company earlier.
Deep-pocketed support demonstrates the way Bill Gates-backed robotics startup Field AI is being positioned as a leading player in the developing robotics and artificial intelligence space. Over-subscription also indicates the way several investors approached the company aggressively, citing rising demand for robotics firms with the ability to grow big.
Robotics demand is accelerating
Field AI's investment comes at good timing with robot startups gaining traction. Another robot startup in the area, Gecko Robotics, last month raised $125 million and is now worth over $1 billion. In industries ranging from construction to logistics and energy, firms are seeking robotics not only for efficiency but also to fill labor gaps and for safety.
Field AI is unique in that it creates complex models that can handle robots globally, making such "effortless transferability" possible from one environment to another. This reduces customers' workload as they can deploy robots in large numbers without much upfront effort.
DeepMind talent, SpaceX talent, and NASA talent
Among the top advantages of Bill Gates-backed robotics startup Field AI is the group of world-class talent it boasts. Former NASA, SpaceX, Amazon, Tesla Autopilot, and Google DeepMind engineers and researchers have been hired by the company. This non-traditional talent pool positions Field AI to revolutionize the industry of autonomous robotics and "physical AI."
Agha himself spent nearly a decade at NASA's Jet Propulsion Laboratory working on robotics autonomy. His vision for Field AI is to create robots that can seamlessly integrate into real-world problems, from warehouses to construction sites.
Expanding to keep up
To address growing customer demand, Field AI has been hiring rapidly. Over the last couple of months, the company has added more than 100 new jobs, which signifies rapid growth. Agha emphasized that robotics not only helps businesses address labor shortages but also enhances safety and operational productivity.
The new capital will allow the startup to accelerate hiring, increase operations, and build out additional robotics models. As robotics adoption is expected to boom in the next decade, the company's timing appears wise.
Looking ahead
As businesses increasingly rely on robotics and artificial intelligence to fuel automation, Bill Gates-backed robotics company Field AI is one to note. Its blue-chip backers, cutting-edge technology, and seasoned staff give it a strong platform on which to shape the future of robotics.
By combining talent from leading tech and aerospace companies with funding from some of the world's top financiers, Field AI aims to not only increase the capabilities of robots but also their affordability to industries around the world.
Worth $2 billion after just two years, Field AI is the reflection of increasing confidence that the robotics industry is on the threshold of its breakout phase — an era when software, hardware, and artificial intelligence come together to revolutionize industry operations.
