Humanoid robot maker Agility Robotics is set to go public in a deal valuing the company at $2.5 billion.
The startup, based in Salem, Oregon, revealed its intentions to merge with Churchill Capital Corp XI, a special purpose acquisition company.
A release about the transaction said it would “create the only US publicly listed pure-play humanoid company with proven, active commercial deployments.”
Agility said that it expected to receive more than $620 million in proceeds, including an incremental $200 million in financing from new and existing investors.
Among the big names that have supported Agility to date are Nvidia, Amazon, SoftBank’s Vision Fund 2, Foxconn, Schaeffler and DCVC.
Agility has emerged as one of the leading vendors in humanoid robotics, with its flagship bipedal bot Digit now deployed at major enterprises including Schaeffler, GXO, Toyota Motor Manufacturing Canada, and Latin American e-commerce giant Mercado Libre. Amazon has tested Digit in its warehouses.
The bot is being used to perform repetitive physical tasks across nine customer facilities, with Agility claiming it has amassed more than 65,000 hours of safe operation in these live production areas.
Commercial sales of a fifth iteration are now imminent, according to Agility.
This functionality is underpinned by Agility’s proprietary physical AI platform, which enables Digit to perceive, understand, and interact with the physical world, with continuous updates enabling it to develop new skills over time.
More than $300 million of multi-year contracted Digit v5 orders have been secured to date — subject to specific contractual milestones being realized — and Agility claims a pipeline of more than 30 customers.
In addition, the vendor’s increasing influence in the sector was demonstrated earlier this month when Nvidia selected it as a launch partner for Nvidia’s new Halos full-stack safety system for physical AI and humanoid robotics.
Agility says the proceeds from the deal will be used to boost the number of deployments, scale production of Digit v5 and further develop its integrated platform.
”We believe humanoids are at a meaningful inflection point in commercial adoption, and we are focused on meeting growing customer demand,” Peggy Johnson, CEO, said in a statement. “As adoption accelerates, we believe Agility is positioned to address a market opportunity across manufacturing, distribution, and logistics environments in the United States that is estimated … to be approximately $1 trillion.”
