Humanoid maker Agility Robotics to go public through SPAC merger
AI News Desk
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The Robot Report
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7 min read
The Digit humanoid robot is already at work at several commercial customers.
The Digit humanoid robot is already at work at several commercial customers. Source: Agility Robotics
Agility Robotics Inc. today said that it has agreed to merge with special purpose acquisition company, or SPAC, Churchill Capital Corp. XI. It claimed that it will become “the only U.S. publicly listed pure-play humanoid company with proven, active commercial deployments.”
Agility developed bipedal research platform Cassie and humanoid robot Digit, which is now in commercial trials. The Salem, Ore.-based company said it expects the SPAC transaction to provide more than $620 million in gross proceeds for a valuation of $2.5 billion in pre-money equity.
“Humanoid robots are a critical driver of American technology leadership and the future of global industry,” stated Peggy Johnson, CEO of Agility Robotics. “With category-defining commercially deployed humanoid robots operating in real customer environments today, Agility is at the forefront of a new era where safety-first, AI-powered technology can reliably work alongside people to bridge labor shortages, increase productivity, and strengthen the resilience of our supply chains.”
“We believe humanoids are at a meaningful inflection point in commercial adoption, and we are focused on meeting growing customer demand, expanding deployments, and advancing our roadmap across robotics, physical AI, safety systems, and enterprise software,” she added. “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 by management to be approximately $1 trillion.”
“Companies don’t buy tech; they buy solutions,” said Johnson during a investor briefing. “At Agility, we’re doing just that. That’s missing from the headlines about AI — companies still have to solve real physical problems.”
Dr. Jonathan Hurst, Dr. Damion Shelton, and Mikhail Jones spun Agility Robotics out of Oregon State University ‘s Dynamic Robotics Laboratory in 2015. Since then, the company has focused on advancing humanoids from research and development into real-world commercial deployment, building expertise across robotics, physical AI , safety systems, and enterprise automation.
“We set out to build robots capable of performing useful physical work in environments designed for people, and that mission has been central to Agility from Day 1,” said Jonathan Hurst, co-founder and chief robot officer of Agility. “We believe cooperative safety is the critical unlock for scaled humanoid adoption, and our next generation Digit represents an important milestone toward a future where robots become trusted partners in the workplace.”
“We looked at hundreds of applications,” he recalled. “We realized that picking up bins and totes is an awfully good beachhead market.”
Agility said its executive team has more than 80 years of combined commercial leadership and over 50 years of technical robotics experience. Chief Technology Officer Pras Velagapudi participated in a keynote panel discussion at the Robotics Summit & Expo last month about the state of humanoid robot design.
Agility said it has designed Digit v5 for environments where people and robots work together, expanding the range of workflows that can be automated. It will be able to lift up to 50 lb. (22.7 kg, a 40% increase from v4), operate for about 22 hours on a charge, and reach up to 7.2 ft. (2.1 m).
The robot’s physical AI platform enables it to perceive, understand, and interact with the physical world while safely operating in complex, human-centric environments, explained Agility. The company, which rebranded from Agility Robotics to just “Agility” in March, noted that data from widening real-world deployments is continuously improving these capabilities as it develops new skills.
Agility cited technology collaborators including Google DeepMind and NVIDIA , which chose it as the launch partner for NVIDIA Halos , a full-stack safety system for physical AI and humanoids. It also uses NVIDIA IGX Thor.
To support commercial scale, Agility said it has built the necessary manufacturing, hardware, supply chain, and deployment infrastructure. This includes RoboFab , its full-scale modular manufacturing facility in Salem, Ore., designed to support production of up to 10,000 units annually.
Agility also has operations in Pittsburgh and Fremont, Calif. The company said that it owns of many of Digit’s highest-value hardware systems and that it sources approximately 75% of the robot’s parts within the U.S.
Agility Arc is a cloud-based automation platform for integrating Digit into customer operations. It enables deployment, fleet orchestration, and operational management across facilities. It provides robot status and integrates with warehouse management systems ( WMS ), said Hurst.
Agility Robotics asserted that its flagship robot “is a general-purpose, human-centric robot Made for Work.” After more than a decade of development, Digit is currently operating in manufacturing , distribution , and logistics environments to fill chronic physical labor shortages, it said.
In 2024, Digit earned Agility the inaugural RBR50 Robot of the Year award for being one of the first humanoids to enter commercial trials with Amazon and GXO Logistics . Digit v4 has a carrying capacity of 35 lb. (15.8 kg), a reach of 5.5 ft. (1.6 m), and a 16-hour operating time based on a standard charge.
Today, Digit is working at enterprises including Schaeffler , Toyota Motor Manufacturing Canada , and Mercado Libre , where it automates repetitive physical tasks such as machine tending and sortation . Through commitments across nine customer facilities, Digit has accumulated more than 65,000 hours of operation and demonstrated the ability to operate safely and reliably in live production environments.
These deployments have fed Agility’s “data flywheel,” generating a growing body of proprietary, real-world operational data to improve its embodied AI systems, accelerate development of new capabilities, and expand the range of tasks that Digit can perform.
Agility is preparing for the commercial launch of Digit v5. The company said it has already secured more than $300 million in multi-year orders for Digit v5, subject to the realization of certain contractual milestones.
“We learned in our commercial deployments that safety is the biggest blocker to adoption,” said Hurst. “Once we deploy Digit v5, this will be the scaling moment for humanoid moments. Our robot will be able to walk out of a fenced area or workcell and walk out into warehouse and factory environments.”
Through its Customer Acceleration Program, Agility is helping potential customers evaluate and prepare for large-scale humanoid adoption with phases from pilot to full deployment.
Digit is available through a robotics-as-a-service ( RaaS ) model or direct purchase for a rapid return on investment, said Jennifer Hunter, chief financial and operating officer at Agility. The bill of materials for Digit v4 is $125,000 and Agility expects to further reduce it as production volumes increase, she said.
The company said it has a growing pipeline of more than 30 customers, reflecting growing enterprise demand. It also plans to license some of its technologies, said Johnson.
The SPAC deal is intended to help Agility scale production and deployment. Source: Agility Robotics
Agility has strategic investors and partners from across the AI, technology, venture capital, and industrial ecosystem, including DCVC, NVIDIA, Amazon, SoftBank Vision Fund 2, Schaeffler, Foxconn , Abico, and Playground Global.
Churchill XI said the $620 million of gross proceeds from the transaction will include $420 million of cash held in its trust account (assuming no redemptions). It will also include approximately $200 million of incremental financing via a common stock PIPE (private investment in public equity) committed at $10 per share, led by Foxconn with participation from leading existing and new institutional investors.
“Churchill Capital is proud to partner with companies that are shaping the future of technology and commerce,” said Michael Klein, chairman and CEO of Churchill Capital Corp XI . “Agility is a humanoid first mover with proven technology, real-world deployments, and the trust of some of the world’s most demanding enterprises. We are excited to support Peggy, Jonathan, and the Agility team as they scale deployment of Digit, extend their leadership in physical AI, and create enduring value for shareholders.”
Other recent SPAC acquisitions include those of autonomous freight developer Einride and autonomous flight developer Merlin . In 2021, Berkshire Grey , Sarcos , Symbotic , and Vicarious Surgical all made SPAC deals.
The boards of directors of both Agility and Churchill XI unanimously approved the proposed business combination, and 100% of existing Agility shareholders will roll their equity into the combined company. All existing Agility shareholders will be locked up for 180 days at close of the transaction.
Upon the expected close of the transaction this year, subject to regulatory approvals and customary closing conditions, the combined company will continue to operate as Agility and will be listed on a major North American exchange under the ticker symbol “AGLT.”
Agility said it plans to use the proceeds to fulfill existing customer orders, expand commercial deployments, scale production of Digit v5, and continue investing in its integrated platform.
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