Agility Robotics started as a university research project in Oregon back in 2015. A decade later, its bipedal Digit robots are moving totes in Toyota and GXO warehouses — and the company is heading to public markets through a $2.5 billion SPAC merger with Churchill Capital Corp XI.
The deal structure: Churchill's SPAC trust contributes roughly $420 million, while a PIPE placement led by Foxconn adds over $200 million more, pushing total gross proceeds past $600 million. Foxconn isn't just a financial backer here — the Taiwanese manufacturing giant is a potential production partner, which could fundamentally reshape how quickly Agility can scale from hundreds of robots to thousands.
The investor list reads like a who's-who of tech infrastructure: Amazon, Nvidia, SoftBank Vision Fund 2, and DCVC. Around 100 Digit robots are already deployed across nine commercial sites. Critically, Agility has secured more than $300 million in signed multi-year orders for its next-generation Digit v5 before going public. That's real, contracted revenue, not pipeline projections.
Two days before the SPAC announcement, Agility signed a commercial deal with Toyota Motor Manufacturing Canada. The timing wasn't coincidental — it's a deliberate market signal. Industrial buyers with genuine scale requirements are committing, not running indefinite pilots.
Digit v5 tackles the hardest part of humanoid robot deployment: working alongside humans in shared spaces, without requiring segregated cages or specially designed zones. Most warehouse robots today still operate in cordoned-off areas. Getting out of the cage is the real inflection point that enables broad adoption, and it's what Agility is betting $600 million on proving at scale.
Post-merger, the company trades on NASDAQ as AGLT, with a pipeline of 30+ enterprise customers evaluating large-scale deployments. CEO Peggy Johnson, a former Microsoft executive, has steered Agility toward practical industrial use cases — a sharper commercial focus than many competitors who are still in demo mode.
