Humanoid robots are walking out of warehouse pilots and into Wall Street’s line of sight.
Agility Robotics, the Oregon company behind the Digit humanoid robot, plans to go public through a merger with Churchill Capital Corp. XI, valuing the company at $2.5 billion. If completed, the transaction would make Agility one of the first pure-play humanoid robotics companies listed on a major North American stock exchange.
The merger is expected to provide Agility with more than $620 million in gross proceeds, including approximately $420 million held in Churchill XI's trust account and about $200 million from a private investment led by manufacturing giant Foxconn.
The company said the funding will be used to fulfill existing customer orders, expand deployments, increase production of its next-generation Digit v5 robot, and continue investing in robotics software, artificial intelligence, safety systems, and manufacturing infrastructure.
Agility has spent more than a decade developing humanoid robots designed to work in warehouses, distribution centers, and manufacturing facilities. Its flagship robot, Digit, is already operating in commercial environments with companies including Schaeffler, GXO, Toyota Motor Manufacturing Canada, Mercado Libre, and Amazon.
"Humanoid robots are a critical driver of American technology leadership and the future of global industry," Agility CEO Peggy Johnson said in the company's announcement.
Growing demand fuels expansion plans
The company said Digit has accumulated more than 65,000 hours of operation across customer facilities and has secured more than $300 million in multi-year orders for the upcoming Digit v5 platform, subject to contractual milestones.
According to Agility, interest in humanoid robots is growing as companies seek to address labor shortages and automate repetitive physical tasks. The company estimates the market opportunity across manufacturing, logistics, and distribution operations in the United States alone could reach roughly $1 trillion.
"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," Johnson said.
The company said it currently has a pipeline of more than 30 potential customers through its Customer Acceleration Program, which helps businesses evaluate large-scale humanoid deployments. To support broader adoption, Agility has built manufacturing capabilities at its RoboFab facility in Salem, Oregon. According to the company, the factory is designed to eventually produce up to 10,000 humanoid robots annually.
Public markets reopen for robotics
The deal also marks another sign of renewed activity in the SPAC market after a slowdown following the boom years of 2021.
Churchill Capital Corp XI is led by veteran dealmaker Michael Klein, whose previous SPAC transactions have included electric-vehicle maker Lucid and nuclear-energy company Oklo.
"Agility is a humanoid first mover with proven technology, real-world deployments, and the trust of some of the world's most demanding enterprises," Klein said. The boards of both companies have approved the merger, which is expected to close in 2026 pending shareholder approval, regulatory reviews, and other customary conditions.
Want to see where the humanoid robot race is headed next? Read our coverage of AgiBot's livestreamed robot factory in China and how it highlights the industry's push toward mass production.