Agility Robotics to go public via SPAC merger valued at $2.5B

Agility Robotics, a humanoid robotics startup spun out of Oregon State University in 2015, announced plans to go public through a merger with special purpose acquisition company Churchill Capital Corp XI. The transaction values the company at approximately $2.5 billion and is expected to generate more than $620 million in proceeds, including about $200 million from a group of new and existing institutional investors.

The company is best known for Digit, a bipedal robot currently deployed across nine customer sites, including facilities operated by Schaeffler, GXO, Toyota Motor Manufacturing Canada, and Mercado Libre. Agility has raised funding from prominent backers such as Amazon, Nvidia, SoftBank Vision Fund 2, and DCVC.

Proceeds from the SPAC merger will be used to increase production capacity for Digit v5, fulfill existing orders, and expand to new and existing customers. Agility reported securing more than $300 million in multi-year orders for the new model and a pipeline of more than 30 potential customers evaluating large-scale deployments.

Agility CEO Peggy Johnson stated in a press release that humanoid robots are poised to address labor shortages, improve efficiency, and integrate AI-powered automation into enterprise operations. The combined company is expected to trade under the ticker symbol AGLT on a North American stock exchange, though the specific exchange has not yet been announced.