Agility Robotics, a prominent developer of humanoid robots, has announced plans to become a publicly traded company through a merger with the Special Purpose Acquisition Company (SPAC) Churchill Capital Corp XI. The deal is set to value the robotics firm at approximately £2 billion, marking a significant step for the company that originated from Oregon State University in 2015.
The transaction is anticipated to generate more than £490 million in proceeds. This funding includes around £160 million from a consortium of new and existing institutional investors, signalling strong confidence in Agility's future prospects. The capital infusion is earmarked for critical expansion initiatives, primarily to ramp up production capacity for its next-generation Digit v5 robot and to fulfil a substantial pipeline of existing customer orders.
Agility Robotics is widely recognised for its bipedal robot, Digit, which is currently deployed across nine customer sites globally. These deployments include operations with major industrial players such as Schaeffler, GXO, Toyota Motor Manufacturing Canada, and Mercado Libre. The company has also attracted significant backing from high-profile technology firms and investment funds, including Amazon, Nvidia, SoftBank Vision Fund 2, and DCVC.
The company has already secured multi-year orders exceeding £240 million for its new Digit v5 model and reports a pipeline of over 30 potential customers evaluating large-scale deployments. According to Agility CEO Peggy Johnson, humanoid robots are poised to become a vital driver for productivity, supply chain resilience, and technological leadership. She emphasised that Agility's commercially deployed humanoids are assisting enterprises in addressing labour shortages, enhancing efficiency, and safely integrating AI-powered automation into their daily operations.
The combined entity is expected to commence trading under the ticker symbol AGLT on an as-yet-unannounced North American stock exchange. This move into the public market will provide Agility with the necessary capital to accelerate its growth and solidify its position in the rapidly evolving humanoid robotics sector.