Humanoid Robot Maker Public
Agility Robotics to Go Public Via $2.5 Billion SPAC Merger with Churchill Capital
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Key Points
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Digit’s real-world footprint: Agility has logged about 65,000 hours of operation across nine customer facilities, with active deployments at Schaeffler, GXO, Toyota Motor Manufacturing Canada, and Mercado Libre, and backers including Nvidia, SoftBank Vision Fund 2, Foxconn, and DCVC.
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Digit v5 orders and scaling plans: The company has secured more than $300 million in multi-year orders for Digit v5 and intends to use SPAC proceeds to fulfill these orders, expand deployments, and scale production at its Salem, Oregon facility (designed to produce up to 10,000 units).
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Private funding and prior valuation context: Agility has raised roughly $640 million privately to date, with its latest round a $400 million Series C in 2025 that carried a post-money valuation of about $2.1 billion.
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Local-scale and employment context in Oregon: The Marion County assessor valued the factory and equipment at about $40 million last year, and the company employed roughly 280 people, including about 150 at its RoboFab facility in Salem.
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Valuation uncertainty and SPAC-structure caveats: Reports vary between roughly $2.5 billion and $3 billion for Agility’s deal; some sources note that the SPAC partner identity isn’t publicly confirmed in all accounts, underscoring broader valuation uncertainty in SPAC transactions.
Agility Robotics is going public in a $2.5 billion deal, becoming the first pure-play humanoid robotics company to trade on a major U.S. exchange. The Oregon-based maker of the Digit robot announced a merger with Churchill Capital Corp XI, a SPAC led by financier Michael Klein, on June 24, 2026. The combined company will trade under the ticker AGLT, with the deal expected to close by late 2026 pending SEC and shareholder approvals. GeekWire first broke down the details buried in the filings.
The transaction is structured to raise over $620 million in gross proceeds — $420 million from Churchill's trust and $200 million in private investment led by Foxconn. That capital infusion will help Agility fill a $300 million backlog of multi-year orders for its Digit v5 robot and scale production at its Salem, Oregon factory, according to Business Model Analyst.
Foxconn Money and a $620M War Chest to Scale Digit
The deal's financing is split into two parts. Churchill Capital's trust contributes $420 million. Foxconn leads an additional $200 million private investment, known as a PIPE — private investment in public equity. Together, the two tranches give Agility more cash than it has raised in its entire private history, according to Crypto Briefing.
Foxconn's involvement carries a symbolic weight beyond the dollar amount. Analysts at The Robot Report view it as a sign that the supply chain for humanoid robots is finally maturing — moving from lab experiments to mass manufacturing. Existing Agility shareholders will roll their equity into the new company but face a 180-day lockup period before they can sell shares.
Digit Has 65,000 Hours of Real-World Work Behind It
Unlike many robotics companies still testing prototypes in labs, Agility's Digit robot has logged over 65,000 operating hours across nine customer facilities. Active deployments include Schaeffler, GXO, Toyota Motor Manufacturing Canada, and Mercado Libre. Amazon has also worked with Digit in warehouse settings. CEO Peggy Johnson says this traction matters. "Humanoid robots are a critical driver of American technology leadership," she said, per The Robot Report.
The company's Salem, Oregon factory — called RoboFab — spans 70,000 square feet and is designed to produce up to 10,000 Digit units per year. The facility currently employs about 150 people. Agility plans to grow that headcount to 500. The Marion County assessor valued the factory and its equipment at roughly $40 million last year, according to GeekWire.
Valuation Jumped 19% Since Last Year's Private Round
Agility raised $400 million in a Series C in March 2025 at a post-money valuation of $2.1 billion. The new SPAC deal pegs the company at $2.5 billion — about a 19% premium over that figure in roughly 15 months. In total, Agility has raised about $640 million in private funding before this transaction, per Crypto Briefing.
Backers include Nvidia, SoftBank Vision Fund 2, Foxconn, and DCVC. Churchill's chairman Michael Klein called Agility "a humanoid first mover with proven technology" and "the trust of some of the world's most demanding enterprises." Some reports have cited valuations as high as $3 billion, reflecting the uncertainty that comes with SPAC-structured deals, Yahoo Finance noted.
SPAC Route Carries Real Risks Despite the Hype
SPACs boomed in 2020 and 2021 but have a mixed track record. High-profile failures like Lordstown Motors and Arrival have made investors cautious. Agility's unaudited 2025 financials show $111 million in operating expenses and a cash burn of roughly $100 million per year — significant numbers for a company that has not disclosed its revenue, GeekWire reported.
Bulls point to the $300 million order backlog and Digit's real-world deployment hours as proof the company is ahead of rivals like Figure AI and Tesla's Optimus. Bears argue the $2.5 billion price tag is a bet on a future that is still far from profitable. The deal's close — and the start of trading under AGLT — will hinge on SEC review and a shareholder vote expected later in 2026, per Business Model Analyst.
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