Agility Robotics, a prominent developer of humanoid robots, recently announced its plans to go public through a merger with a special acquisition company, Churchill Capital Corp XI. The deal values the robot manufacturer at approximately $2.5 billion and is expected to bring in over $620 million in new capital. Of this amount, around $200 million will come from a mix of new and existing institutional investors.
The funds raised by Agility Robotics will be used to expand the production of the next generation of their humanoid robots, Digit v5, fulfill existing contracts, and attract new customers. Established in 2015 as a spinoff from research conducted at the Oregon State University, the company gained recognition through its two-legged humanoid robot, Digit, designed for logistics and warehouse operations. Unlike many other prototype humanoid platforms, Digit is already in use in real commercial projects.
Agility Robotics’ robots are operational at nine client sites, including industrial component manufacturer Schaeffler, logistics operator GXO, Toyota Motor Manufacturing Canada, and Latin America’s largest e-commerce platform, Mercado Libre. The company has garnered support from major technology investors such as Amazon, Nvidia, SoftBank Vision Fund 2, and venture firm DCVC.
Investors’ interest is fueled by the promising prospects of the humanoid robotics market, viewed as a key area for artificial intelligence and industrial automation advancement. Agility Robotics has secured multi-year orders for the new Digit v5 robots totaling over $300 million and is currently in discussions with over 30 potential clients for large-scale robot deployments.
Peggy Johnson, the CEO of Agility Robotics, believes that humanoid robots could play a crucial role in enhancing productivity, ensuring supply chain resilience, and maintaining technological leadership for the United States. Companies are increasingly considering humanoid robots as a means to address labor shortages, enhance production efficiency, and implement AI-based automation systems.
Upon completion of the merger, the combined entity will trade under the ticker symbol AGLT. The specific North American stock exchange for the listing has not been disclosed yet. Agility Robotics’ entry into the public market could mark a significant milestone in the humanoid robotics industry, which has been attracting growing investments amid the rapid advancements in AI and automation technologies.
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