Agility Robotics plans to go public via SPAC at $2.5B valuation

Agility Robotics, the humanoid robotics startup that spun out of Oregon State University in 2015, plans to go public through a merger with Churchill Capital Corp XI. Churchill Capital Corp XI is a special purpose acquisition company (SPAC)—a public shell company created to raise capital to acquire an existing operating business. The transaction values Agility at roughly $2.5 billion. The deal is expected to generate more than $620 million in proceeds, which includes about $200 million from a group of new and existing institutional investors, according to the company.

The company plans to use the capital raised from the SPAC merger to increase the production capacity of its Digit humanoid robot, fulfill its existing orders, and expand its reach to both new and existing customers. Agility has already secured more than $300 million in multi-year orders for the new model of Digit. Currently, the bipedal robot is deployed and operating across nine customer sites. The company also reports a pipeline of more than 30 potential customers that are currently evaluating large-scale deployments of the technology. Among the customers currently utilizing Digit across these nine sites are:

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

To support this commercial expansion, Agility has previously secured backing from high-profile technology companies and investment funds. These backers include Amazon, Nvidia, SoftBank Vision Fund 2, and DCVC. According to Agility CEO Peggy Johnson, humanoid robots are poised to become a critical driver of productivity, supply chain resilience, and American technology leadership. Johnson noted that the funding and public listing will help the company address labor shortages and safely integrate AI-powered automation into enterprise operations.

“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,” Johnson said.

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

Why it matters

The deal provides the capital necessary for Agility to scale production of its Digit humanoid robots, moving from pilot programs to large-scale commercial deployment.