SALEM, OREGON — Agility Robotics plans to go public through a merger with the special purpose acquisition company Churchill Capital Corp XI. The transaction values Agility Robotics at approximately $2.5 billion and is expected to generate more than $620 million in proceeds.

The company intends to merge with Churchill Capital Corp XI by the end of the year. Approximately $200 million of the proceeds will come from a group of new and existing institutional investors. The combined company is expected to trade under the ticker symbol AGLT, though the specific stock exchange has not yet been announced.

Agility Robotics plans to use the capital raised to expand its production capacity for the next-generation Digit v5 model. The company also intends to fulfill existing orders and grow its customer base. Agility Robotics has secured more than $300 million in multi-year orders for the new model and has a pipeline of over 30 potential customers evaluating large-scale deployments.

Digit robots are currently in use across nine customer sites, including companies such as Schaeffler, GXO, Toyota Motor Manufacturing Canada, and Mercado Libre. Michael Klein, co-founder and chairman of Churchill Capital Group, said, "Digit is the first humanoid robot employed and commercially operational in warehouse and industrial facilities."

Peggy Johnson, CEO of Agility Robotics, said, "Humanoid robots are poised to become a critical driver of productivity, supply chain resilience, and American technology leadership." She added, "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 also stated, "Digit specializes in manual labor that for humans would be repetitive, dirty and prone to injury." Regarding the market, she said, "The demand here is large and increasing." She explained, "We have companies reshoring production, older workers retiring, and younger generations just not opting for these types of menial jobs."

Agility Robotics, which spun out of Oregon State University in 2015, is based in Salem, Oregon. The company's product line, Digit, consists of bipedal robots. Upcoming versions of Digit will be capable of working alongside humans in warehouses and manufacturing facilities. Agility Robotics has received backing from companies including Amazon, Nvidia, SoftBank Vision Fund 2, DCVC, and Foxconn.