Agility Robotics to go public in Churchill SPAC valued $2.5B
Agility Robotics, the Oregon startup behind warehouse robots, is set to go public by merging with Churchill Capital Corp XI, a SPAC led by Michael Klein.
The deal values Agility at $2.5 billion and could raise over $620 million, making it the biggest cash boost ever for a humanoid robotics company.
Agility Robotics builds Digit warehouse robots
Launched in 2015 from Oregon State University, Agility builds robots like Digit that help move heavy stuff in warehouses and factories.
They've already landed big clients like Amazon and Toyota with "robots-as-a-service" deals worth more than $300 million.
CEO Peggy Johnson says scaling up production and keeping things safe are top priorities, while home-use robots are on their wish list for the future, even if they're tricky to pull off right now.
The merger still needs approval but could wrap up later this year.