Agility Robotics sets $2.5 billion valuation in SPAC merger with Churchill Capital
The Oregon State University spin-out, backed by Amazon and Nvidia, plans to list on a North American exchange via Churchill Capital Corp XI, targeting industrial clients amid a pipeline of 30 potential customers.
Agility Robotics, a humanoid robotics startup that emerged from Oregon State University in 2015, has agreed to go public through a merger with special purpose acquisition company Churchill Capital Corp XI. The transaction values the firm at approximately $2.5 billion and is expected to generate more than $620 million in proceeds for the combined entity.
The capital raise includes roughly $200 million from a syndicate of new and existing institutional investors. Agility intends to deploy these funds to increase production capacity for its next-generation Digit v5 bipedal robot, fulfil existing orders, and expand its customer base. The company has already secured more than $300 million in multi-year orders for the Digit v5 model and reports a pipeline of over 30 potential customers evaluating large-scale deployments.
Currently, Agility operates its bipedal robots at nine customer sites, including major industrial and logistics players such as Schaeffler, GXO, Toyota Motor Manufacturing Canada, and Mercado Libre. The firm has attracted backing from prominent investors including Amazon, Nvidia, SoftBank Vision Fund 2, and DCVC, reflecting strong institutional interest in the commercial viability of humanoid automation.
Agility CEO Peggy Johnson stated that commercially deployed humanoids are already operating in customer environments to address labour shortages and improve efficiency. She described humanoid robots as a critical driver of productivity and supply chain resilience, noting that the company is helping enterprises safely integrate AI-powered automation into their operations.
The combined company is expected to trade under the ticker symbol AGLT on a North American stock exchange, although the specific venue has not yet been announced. The deal marks a significant milestone for the humanoid robotics sector, which is increasingly focused on developing bipedal robots capable of operating in human-centric industrial environments.
