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Agility Robotics, the Oregon-based company behind the Digit humanoid robot, is heading to public markets through a SPAC merger with Churchill Capital Corp XI. The deal values the robotics firm at approximately $2.5 billion.
The transaction is expected to generate over $600 million in gross proceeds. That includes $420 million sitting in the SPAC’s trust and upwards of $200 million from a Private Investment in Public Equity financing led by existing investor Foxconn.
Once the merger closes, the combined company will trade under the ticker symbol AGLT. For a company that has deployed fewer than 100 robots commercially, the valuation is a serious bet on what humanoid robotics could become rather than what it is today.
The numbers behind the deal
Agility has raised roughly $640 million in private funding to date. Its most recent round, a $400 million Series C completed in 2025, carried a post-money valuation of around $2.1 billion. The SPAC deal’s $2.5 billion valuation represents a meaningful step up from that benchmark, roughly a 19% premium over the last private round.
Agility has deployed nearly 100 of its Digit robots in real-world commercial settings, primarily in logistics and manufacturing environments.
Strategic partnerships and commercial traction
The company’s partnership roster reads like a who’s who of industrial heavyweights. Amazon has been testing Digit robots. Toyota recently signed a commercial partnership with Agility through its Toyota Motor Manufacturing Canada division, announced just days before the SPAC deal on June 22, 2026. NVIDIA has been working with Agility on AI and simulation tools for robot training.
Then there’s Mercado Libre, Latin America’s dominant e-commerce platform, which has also been in Agility’s orbit.
Agility CEO Peggy Johnson, a former Microsoft executive who has been leading the company for two years, has kept the focus squarely on practical industrial applications.
Founded in 2015, Agility spent its early years as a research-oriented venture before pivoting toward commercial readiness. The Digit robot, its flagship product, is designed specifically for tasks like moving totes, loading pallets, and navigating warehouse environments.
What this means for investors
The over $600 million in proceeds should provide a substantial runway for scaling manufacturing, expanding the sales pipeline, and continuing R&D investment. Having Foxconn as both an investor and a potential manufacturing partner addresses capital intensity challenges more elegantly than most startups manage.
The Toyota partnership, announced just two days before the SPAC deal’s disclosure on June 24, 2026, is worth watching closely. The gap between a commercial partnership announcement and actual recurring revenue from robot deployments is where the real story of Agility’s public market journey will be written.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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