Agility Robotics plans to go public via SPAC in a $2.5B deal

Agility Robotics, the humanoid robotics startup that spun out of Oregon State University in 2015, plans to go public through a merger with special purpose acquisition company Churchill Capital Corp XI in a deal that values the company at roughly $2.5 billion.

The transaction 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 said.

About Agility Robotics

Agility is best known for Digit, a bipedal robot that is being used across nine customer sites, including with:

• Schaeffler
• GXO
• Toyota Motor Manufacturing Canada
• Mercado Libre

The company has enjoyed backing from high-profile tech companies and funds like Amazon, Nvidia, SoftBank Vision Fund 2, and DCVC.

Use of Proceeds

Now it plans to use the capital raised in the SPAC merger to:

• Increase production capacity of its next-generation Digit v5
• Fulfill existing orders
• Expand to new and existing customers

The company said it has secured 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.

CEO Statement

“Humanoid robots are poised to become a critical driver of productivity, supply chain resilience, and American technology leadership,” Agility CEO Peggy Johnson said in a statement. “With commercially deployed humanoids already operating in customer environments today, Agility is helping enterprises address labor shortages, improve efficiency, and safely integrate AI-powered automation into their operations.”

Stock Listing

The combined company is expected to trade under the ticker symbol AGLT on a North American stock exchange that has not yet been announced.