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Agility Robotics, a pioneering humanoid robotics startup that emerged from Oregon State University in 2015, has set its sights on going public via a merger with special purpose acquisition company Churchill Capital Corp XI. The deal values Agility at around $2.5 billion and is expected to raise over $620 million in proceeds, with $200 million coming from institutional investors.
The company’s renowned product, Digit, a bipedal robot, is currently operational in nine locations, including collaborations with Schaeffler, GXO, Toyota Motor Manufacturing Canada, and Mercado Libre. Backed by influential tech giants like Amazon, Nvidia, SoftBank Vision Fund 2, and DCVC, Agility’s plan post-merger is to bolster production capabilities for its cutting-edge model, Digit v5. With over $300 million in orders and a robust pipeline of potential customers, Agility is positioning itself at the forefront of the humanoid robot industry.
Agility’s CEO, Peggy Johnson, emphasized the pivotal role humanoid robots will play in enhancing productivity, fortifying supply chain resilience, and advancing American technological supremacy. The company’s mission is to aid businesses in combating labor shortages, enhancing operational efficiency, and seamlessly integrating AI-powered automation into their workflows.
Following the merger, the combined entity is set to trade under the ticker symbol AGLT on a North American stock exchange. This strategic move will enable the company to further its production capabilities, meet existing orders, and cultivate relationships with new clientele, solidifying its position as a leader in the robotics industry.
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