Agility Robotics, the U.S. startup behind the humanoid robot Digit, is set to go public through a merger with special-purpose acquisition company Churchill Capital Corp XI in a deal that values the company at approximately $2.5 billion, marking a major milestone for the fast-growing robotics industry.
The transaction is expected to generate more than $620 million in gross proceeds, including about $420 million held in trust by Churchill Capital Corp XI and more than $200 million in private investment led by Taiwanese electronics manufacturer Foxconn. The combined company is expected to trade on the Nasdaq under the ticker symbol AGLT, pending shareholder and regulatory approval.
Founded in 2015 as a spinout from Oregon State University, Agility Robotics develops humanoid robots designed to perform repetitive and physically demanding tasks in warehouses and manufacturing facilities. Its flagship robot, Digit, is already being deployed or tested by companies including Amazon, Toyota, Schaeffler, GXO Logistics, and Mercado Libre.
Chief Executive Officer Peggy Johnson said the public listing will help the company accelerate production and meet growing demand from businesses facing persistent labor shortages and increasing pressure to automate logistics and industrial operations.
Agility plans to use the new capital to expand manufacturing of its latest Digit V5 robot, improve artificial intelligence capabilities, and strengthen safety systems through partnerships that include Nvidia. The company’s factory in Salem, Oregon, has the capacity to produce up to 10,000 robots annually as commercial adoption continues to grow.
The deal also makes Agility one of the first pure-play humanoid robotics companies to enter the U.S. public markets, as investors increasingly turn their attention to artificial intelligence and automation. The company will compete with rivals including Tesla’s Optimus program and Boston Dynamics, while aiming to establish itself as a leading provider of robots for industrial workplaces rather than consumer applications.
Backed by investors including Amazon, Nvidia, SoftBank, and Foxconn, Agility is betting that demand for humanoid robots will continue to expand as companies seek solutions for repetitive, hazardous, and labor-intensive work.
