Agility Robotics, an American developer of humanoid robots, has finalized an agreement to go public through a merger with Churchill Capital Corp XI, a special-purpose acquisition company. This deal values the company at $2.5 billion and is anticipated to raise over $620 million. According to ixbt.com, Agility Robotics is focused on expanding its market reach, increasing deployments, and advancing robotic technology, security systems, and corporate software.
Peggy Johnson, the CEO of Agility Robotics, stated, “The company is committed to expanding its deliveries, increasing deployments, and advancing technologies in robotics, security systems, and corporate software.” As part of this merger, around $200 million will be raised through a private placement of shares led by Foxconn. Following the completion of the merger, the consolidated entity will retain the name Agility and be listed on the stock exchange under the ticker symbol AGLT.
Agility Robotics is known for developing the Digit robot designed for use in manufacturing, distribution centers, and logistics. Digit has already accumulated over 65,000 operating hours at customer sites, including Schaeffler, GXO, Toyota, and Mercado Libre. The company has announced orders exceeding $300 million for the next generation Digit v5 robot, with a potential client list comprising more than 30 companies. The management estimates that the market for humanoid robots in the US could reach $1 trillion.
In preparation for mass production, Agility has established the RoboFab factory capable of producing up to 10,000 robots per year. Additionally, the company collaborates with Google DeepMind and Nvidia, with approximately 75% of Digit’s components being manufactured in the USA. The boards of directors of Agility Robotics and Churchill Capital Corp XI have already approved the merger. Its completion is anticipated this year pending shareholder and regulatory approval. Stay updated on all the latest news and events in the Russian-speaking Internet by subscribing to our Telegram channel.
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