Agility Robotics Targets Public Market With $2.5 Billion SPAC Merger

Agility Robotics, the humanoid robotics company that emerged from Oregon State University in 2015, has announced plans to go public through a merger with special-purpose acquisition company Churchill Capital Corp. XI. The proposed transaction values the robotics developer at approximately $2.5 billion.

According to the company, the deal is expected to generate more than $620 million in gross proceeds. That total includes around $200 million from a group of both existing and new institutional investors participating in the transaction.

Agility Robotics is widely recognised for developing Digit, its bipedal humanoid robot designed to assist with warehouse and industrial operations. The robot is currently deployed across nine customer locations, including facilities operated by Schaeffler, GXO, Toyota Motor Manufacturing Canada, and Mercado Libre.

Since its founding, the company has attracted investment from several major technology firms and venture capital groups, including Amazon, Nvidia, SoftBank Vision Fund 2, and DCVC. Agility says the capital raised through the SPAC merger will primarily be used to expand manufacturing capacity for its next-generation Digit v5 robot, fulfil existing customer commitments, and accelerate deployments with both current and prospective clients.

The company also revealed that it has already secured more than $300 million in multi-year orders for the new Digit v5 platform. In addition, Agility says it has built a pipeline of more than 30 prospective customers that are currently evaluating large-scale deployments of its humanoid robots.

“Humanoid robots are poised to become a critical driver of productivity, supply chain resilience, and American technology leadership,” Agility Robotics CEO Peggy Johnson said in a statement. “With commercially deployed humanoids already operating in customer environments today, Agility is helping enterprises address labour shortages, improve efficiency, and safely integrate AI-powered automation into their operations.”

Following completion of the merger, the combined company is expected to trade under the ticker symbol AGLT on a North American stock exchange. The company has not yet announced which exchange will host its public listing.