Agility Robotics, the American company behind the humanoid robot Digit, is set to become the first publicly traded company solely focused on humanoid robots. This move is facilitated by a merger with a Special Purpose Acquisition Company (SPAC) at a valuation of $2.5 billion, with plans to list on the Nasdaq under the ticker symbol AGLT.
The merger will see Agility Robotics merging with Churchill Capital Corp XI, an acquisition vehicle created by financier Michael Klein. The transaction values the startup at around $2.5 billion, with projected revenues exceeding $600 million. This includes $420 million in cash from the SPAC and over $200 million from a private placement led by Foxconn.
Agility Robotics, led by Peggy Johnson, a former executive at Microsoft and Magic Leap, aims to complete the merger pending shareholder and SEC approval by the year’s end. Unlike many prototypes confined to showcase booths, Digit has already been operational in real-world conditions. The company boasts over 65,000 cumulative operating hours across nine client sites, including prominent names like GXO, Schaeffler, Toyota Motor Manufacturing Canada, and Mercado Libre.
At GXO, Digit has demonstrated reliability by moving over 100,000 bins in a distribution center, showcasing its efficiency in tasks such as sorting and loading conveyors. In France, humanoid industrial robots like Northstar are making advancements, along with the regulated integration of autonomous delivery robots on roads.
Financial documents for the merger reveal Agility Robotics still operates at a significant deficit, with operational expenses increasing from approximately $71 million in 2024 to $111 million in 2025. Cash burn is estimated at nearly $100 million over the same period. The company highlights over $300 million in “committed” orders for the upcoming Digit v5 generation, primarily reliant on the fulfillment of specific milestones, including a three-year contract for 1,000 robots with an undisclosed client.
The partnership with Churchill Capital Corp XI enables Agility Robotics to swiftly access financial markets for fundraising without undergoing a traditional IPO process. Digit’s deployment at GXO, Schaeffler, Toyota Motor Manufacturing Canada, and Mercado Libre focuses primarily on warehouse handling tasks. Despite these advancements, the company continues to operate at a deficit, as operational expenses surge and cash burn nears $100 million in 2025.
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