Agility Robotics to go public via SPAC at $2.5 billion valuation

Agility Robotics plans to go public in a deal valuing the company at about $2.5 billion. The humanoid-robot startup, which spun out of Oregon State University in 2015 and builds a robot called Digit, will merge with Churchill Capital Corp XI, a SPAC led by Michael Klein, and is expected to trade under the ticker AGLT.

The move would make Agility the first humanoid-focused company to go public in the US. The transaction is expected to generate more than $600 million in gross proceeds, including $420 million from Churchill XI and over $200 million through a common-stock PIPE led by Foxconn, an existing investor.

Other backers include DCVC, Nvidia, Amazon, and SoftBank. Jonathan Hurst, Agility’s cofounder and chief robot officer, said the timing is right and the company aims to be a first mover in defining the humanoid industry. Agility plans to use the funds to fulfill existing customer orders, expand deployments, and scale production of its next-generation humanoid, Digit v5.

United States, Oregon

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