Agility, a manufacturer of humanoid robots, is valued at $2.5 billion
Agility’s clients include Amazon.com, which uses the company’s products in its warehouses, the logistics firm QXO, the automotive components manufacturer Schaeffler, and Toyota Motor Manufacturing Canada
Agility Robotics, a start-up that manufactures humanoid robots for use in manufacturing plants and warehouses, is set to go public in a deal that values the company at around $2.5 billion, according to comments made by its executives to the Wall Street Journal.
Details of the operation
Agility is set to merge with Michael Klein’s special purpose acquisition company (SPAC), Churchill Capital Corp. XI, and to be listed on the stock exchange under the ticker symbol AGLT.
The companies expect to generate gross proceeds of over $600 million from the transaction, including $420 million in cash from Churchill XI and over $200 million through a private investment in common stock (PIPE), led by Foxconn, the Taiwan-based electronics contract manufacturer which is already a backer of Agility, executives said.
Digit flagship robot
Agility’s flagship humanoid robot is known as Digit. Digit robots help to automate tasks such as moving and stacking heavy containers.
Agility’s competitors in the humanoid robotics sector include established companies such as Tesla and Boston Dynamics, as well as start-ups such as Figure AI and Apptronik.
