Agility Robotics plans to go public via SPAC in a deal valued at $2.5 billion

Agility Robotics, a humanoid robotics startup that spun out of Oregon State University in 2015, plans to go public by merging with special purpose acquisition firm Churchill Capital Corp XI in a deal that values ​​the company at about $2.5 billion.

The transaction is expected to generate proceeds of more than $620 million, including approximately $200 million from a combination of new and existing institutional investors. The company said.

Agility is best known for Digit, a bipedal robot that is used at nine customer sites, including Schaeffler and GXO and Schaeffler and GXO. Toyota automobile manufacturer in CanadaAnd mercado libre.

The company has enjoyed backing from high-profile technology companies and funds such as Amazon, Nvidia, SoftBank Vision Fund 2 and DCVC. It now plans to use the capital raised in the SPAC merger to increase next-generation Digit v5 production capacity, meet existing orders, and expand to new and existing customers.

The company said it has more than $300 million in multi-year orders for the new model and a pipeline of more than 30 potential customers to evaluate large-scale deployments.

“Humanoid robots are poised to become a critical driver of productivity, supply chain resilience and America’s technology leadership,” Peggy Johnson, CEO of Agility, said in a statement. “With commercially deployed humanoid robots already operating in customer environments today, Agility is helping organizations address labor shortages, improve efficiency and safely integrate AI-powered automation into their operations.”

The combined company is expected to trade under the ticker symbol AGLT on a yet-to-be-announced North American stock exchange.