Agility Robotics, a startup specializing in humanoid robots and formed from Oregon State University in 2015, is gearing up to become a publicly traded entity through a merger with Churchill Capital Corp XI, a special purpose acquisition company. This partnership values Agility at approximately $2.5 billion.
The merger is projected to yield over $620 million in financial proceeds, which will include around $200 million from a mix of newly-involved and current institutional investors.
Agility is widely recognized for its bipedal robot, Digit, which is currently in operation across nine different customer sites, including collaborations with companies like Schaeffler, GXO, and Toyota Motor Manufacturing Canada.
The firm has received significant support from major tech players and investment groups such as Amazon, Nvidia, SoftBank Vision Fund 2, and DCVC. The capital raised through this merger is earmarked for scaling up production of its upcoming Digit v5 model, fulfilling current customer orders, and reaching out to both new and existing clientele.
Agility has already secured over $300 million in long-term orders for the new model, along with a strong pipeline of more than 30 potential clients assessing large-scale deployment options.
“Humanoid robots are set to play an essential role in enhancing productivity, strengthening supply chain resilience, and leading technology innovation in the United States,” stated Agility CEO Peggy Johnson. “With humanoids already functioning in real-world settings, Agility aids companies in tackling labor shortages, boosting efficiency, and safely incorporating AI-driven automation into their processes.”
The newly formed entity is anticipated to list on a North American stock exchange under the ticker symbol AGLT, though the specific exchange has yet to be disclosed.
