Agility Robotics, the Oregon company behind the warehouse robot Digit, said it will go public through a merger with Churchill Capital Corp XI, a blank-check firm, in a deal valuing the business at roughly $2.5 billion. The companies announced the agreement in a joint statement, and Agility chief executive Peggy Johnson framed the moment as a turning point for an industry moving from demonstrations to real deployments.
The transaction is expected to generate more than $620 million in proceeds, including about $420 million raised by Churchill from public investors and roughly $200 million from a separate private placement involving new and existing institutional backers. Once the deal closes, which the companies expect by the end of 2026, the combined business will trade on the Nasdaq under the ticker AGLT.
For readers unfamiliar with the structure, a SPAC — or special purpose acquisition company — is a shell company that raises money from investors and then merges with a private business to take it public. The process is often faster than a traditional IPO and provides immediate access to growth capital.
What makes Agility noteworthy is what it builds.
Its flagship product, Digit, is a humanoid robot designed to work in environments built for people. Standing nearly six feet tall and capable of lifting boxes, moving totes, and performing repetitive warehouse tasks, Digit is intended to help companies address labor shortages while improving productivity.
Unlike many humanoid robots that remain in research labs or demonstration videos, Digit is already working in real commercial environments.
The robot has been deployed at customer locations including GXO Logistics, Schaeffler, Toyota Motor Manufacturing Canada, and Mercado Libre. Agility says its machines have accumulated more than 65,000 hours of real-world operation.
One of the company’s most closely watched relationships is with Amazon, which has tested Digit in warehouse environments as part of its broader automation strategy. Amazon is also an investor in the company.
Chief Executive Peggy Johnson, a former executive at Microsoft and Magic Leap, believes the industry has reached an important inflection point.
Businesses across manufacturing, logistics, warehousing, and distribution continue struggling to fill positions. At the same time, advances in artificial intelligence are making robots increasingly capable of performing useful work safely and efficiently.
Agility estimates the long-term market opportunity for humanoid robotics could approach $1 trillion.
The company plans to use proceeds from the transaction to expand manufacturing, fulfill existing orders, and accelerate deployment of its next-generation robot platform.
That next version, known as Digit v5, is expected to offer improved dexterity, better object handling, and enhanced safety features required for broader commercial adoption.
Investors have shown growing interest in what many call “physical AI” — the combination of artificial intelligence software with machines capable of operating in the real world.
Agility’s backers include Nvidia, SoftBank Vision Fund 2, DCVC, and several large institutional investors. Their support reflects increasing confidence that robotics may become one of the next major growth areas within artificial intelligence.
There are risks.
SPAC transactions have produced mixed results over the past several years, with some highly anticipated deals struggling after reaching public markets. Investors will likely want additional financial disclosures before fully evaluating the company’s long-term prospects.
Still, Agility’s customer roster, existing deployments, and growing order pipeline distinguish it from many robotics startups that remain years away from commercial adoption.
If successful, the company could become one of the first publicly traded firms focused primarily on humanoid robots.
For now, Digit is already working in warehouses.
Soon, Agility itself may be working on Wall Street.
JBizNews Desk | New York
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