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Agility Robotics to Merge with Churchill Capital in $2.5 Billion Deal
Agility Robotics will merge with Churchill Capital Corp XI in a deal valuing the humanoid robot maker at $2.5 billion. The transaction is expected to generate more than $600 million in proceeds and close in late 2026.
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Agility Robotics plans to go public through a merger with Churchill Capital Corp XI in a transaction that values the humanoid robotics company at $2.5 billion. The merged company is expected to trade under the ticker AGLT on Nasdaq. The deal is projected to produce more than $600 million in gross proceeds, including $420 million in cash from Churchill XI and more than $200 million from a common-stock PIPE led by Foxconn.
Agility Robotics spun out of Oregon State University in 2015 and has deployed its Digit robot across nine customer facilities, including sites operated by Amazon, Toyota, and GXO. The company holds more than $300 million in multiyear orders for its next-generation Digit v5 model. Digit v5 stands five feet nine inches tall.
Its battery is designed to support operation for 20 of every 24 hours. Agility Robotics is working with Nvidia on a safety system and will be the first company to incorporate Nvidia's Halos for Robotics software into its humanoids. Agility Robotics is the first company to commercially deploy humanoids in the United States.
Cofounder and chief robot officer Jonathan Hurst said the timing is right for the company and the market. "We're hitting now as a first mover, which is really important, and we want to be defining the humanoid industry," Hurst told Business Insider. The merger is expected to close in late 2026.
