Agility Robotics, a US company that builds humanoid robots for warehouses and factories, is set to go public through a merger with special-purpose acquisition company (SPAC) Churchill Capital Corp XI in a deal that values the company at $2.5 billion.
This will make Agility the first publicly traded company focused entirely on building and selling humanoid robots. After the deal closes, the combined company is expected to trade on a major North American stock exchange under the ticker symbol “AGLT.”
Company plans to raise over $620 million
Agility said the deal is expected to provide more than $620 million in gross proceeds. This includes about $420 million from Churchill XI’s trust account and around $200 million from a private investment led by Foxconn and supported by existing and new investors.
The company plans to use the funds to expand deployments of its robots, increase production and continue investing in robotics, artificial intelligence, software and manufacturing.
“Humanoid robots are a critical driver of American technology leadership and the future of global industry,” Agility CEO Peggy Johnson said in a statement.
“With category-defining commercially deployed humanoid robots operating in real customer environments today, Agility is at the forefront of a new era where safety-first, AI-powered technology can reliably work alongside people to bridge labour shortages, increase productivity, and strengthen the resilience of our supply chains.”
Digit robot already working in factories and warehouses
Agility’s main product is Digit, a two-legged robot designed to carry bins, totes and other materials in warehouses and industrial facilities. The company says Digit is already being used by customers including Schaeffler, GXO, Toyota Motor Manufacturing Canada and Mercado Libre.
According to Agility, Digit has logged more than 65,000 hours of work across customer sites. The company said it has also secured more than $300 million in multi-year orders for its next-generation robot, Digit v5, subject to certain milestones being met.
Focus on robots that can work with people
Agility is now preparing to launch Digit v5, which it describes as the world’s first “cooperatively safe” humanoid robot. The robot is being designed to work safely alongside humans instead of operating in separate fenced-off areas.
“We set out to build robots capable of performing useful physical work in environments designed for people, and that mission has been central to Agility from day one,” said Jonathan Hurst, the company’s co-founder and chief robot officer. The company says its robots are powered by a proprietary physical AI platform that helps them understand and interact with the world around them.
Backed by major technology companies
Agility has attracted support from major investors and partners including Amazon, Nvidia, SoftBank Vision Fund 2 and Foxconn. “Agility is a humanoid first mover with proven technology, real-world deployments, and the trust of some of the world’s most demanding enterprises,” said Michael Klein, chairman and CEO of Churchill Capital Corp XI.
The company estimates that the market opportunity for humanoid robots in manufacturing, distribution and logistics in the US alone could be worth around $1 trillion. The deal is expected to close in 2026, subject to shareholder approval, regulatory clearances and other customary conditions.
Disclaimer: This article provides factual analysis only and is not, and should not be construed as, an offer, solicitation, or recommendation to buy or sell securities. Investors must conduct their own independent due diligence and seek advice from a registered financial advisor in the respective jurisdiction.
