Agility Robotics goes public, merges with Churchill Capital Corp XI at $2.5 billion valuation

Agility Robotics, “Agility,” a humanoid robotics and physical AI company, and Churchill Capital Corp XI, “Churchill, a publicly traded special purpose acquisition company, announced they have entered into a definitive business combination agreement.

According to Agility and Churchill, upon closing of the transaction, the combined company is expected to operate as Agility and be listed on a major North American exchange under the ticker symbol “AGLT.”

Agility valued at over $2 billion

The companies said that business combination values Agility at a pre-money equity value of $2.5 billion, providing an attractive entry point into Agility for Churchill XI shareholders and new investors. The companies added that the transaction is expected to provide more than $620 million of gross proceeds to Agility, including:

• $420 million of cash held in Churchill XI’s trust account (assuming no redemptions); and
• Approximately $200 million of incremental financing via a common stock PIPE committed at $10 per share, led by Foxconn with participation from leading existing and new institutional investors.

Agility said that it intends to use the proceeds to fulfill existing customer orders, expand commercial deployments, scale production of Digit v5, and continue investing in its integrated platform spanning robotics, physical AI, software, safety systems and manufacturing infrastructure.

More financial details related to the transaction can be found here.

Churchill Capital entered into a definitive business combination agreement with Plus, a physical AI company commercializing AI-based virtual driver software for autonomous trucks, in June 2025.

Digit is “Made for Work”

Agility said that its mission is to build robot partners that augment the human workforce and lead the adoption of humanoids everywhere. Its flagship humanoid robot, Digit, is a general-purpose, human-centric robot “Made for Work” and currently operating in manufacturing, distribution and logistics environments to fill chronic physical labor shortages. Through over a decade of development, Agility said that it has established itself as one of the only humanoid robotics companies with multiple years of operational experience in real customer environments. The company is supported by leading strategic investors and partners across the AI, technology, VC, and industrial ecosystem, including:

• DCVC
• NVIDIA
• Amazon
• SoftBank Vision Fund 2
• Schaeffler
• Foxconn
• Abico
• Playground Global.

“Churchill Capital is proud to partner with companies that are shaping the future of technology and commerce,” said Michael Klein, chairman and CEO of Churchill Capital Corp XI. “Agility is a humanoid first mover with proven technology, real-world deployments, and the trust of some of the world’s most demanding enterprises. We are excited to support Peggy, Jonathan, and the Agility team as they scale deployment of Digit, extend their leadership in physical AI, and create enduring value for shareholders.”

Today, Digit is commercially deployed with enterprises including:

• Schaeffler
• GXO
• Toyota Motor Manufacturing Canada
• Mercado Libre

Through deployment commitments across nine customer facilities, Agility said that Digit has accumulated more than 65,000 hours of operation and demonstrated the ability to operate safely and reliably in live production environments.

“Humanoid robots are a critical driver of American technology leadership and the future of global industry,” said Peggy Johnson, CEO of Agility Robotics. “With category-defining commercially deployed humanoid robots operating in real customer environments today, Agility is at the forefront of a new era where safety-first, AI-powered technology can reliably work alongside people to bridge labor shortages, increase productivity and strengthen the resilience of our supply chains.”

Beyond its active deployments, Agility said that it is working with a growing list of world-class potential customers for its Customer Acceleration Program that helps enterprises evaluate and prepare for large-scale humanoid adoption. The program feeds a growing pipeline of future deployments across industries and reflects increasing enterprise interest in humanoid adoption.

Agility said that its commercial deployments have generated a growing body of proprietary, real-world operational data that continuously improves the company’s embodied AI systems, accelerates development of new capabilities and expands the range of tasks Digit can perform. The company said that this resulting data flywheel strengthens Agility’s technology platform, drives innovation and creates increasing value for customers.

The company said that it is now preparing for the commercial launch of Digit v5, its next-generation humanoid robot designed to be the world’s first cooperatively safe humanoid. Agility said that it has already secured more than $300 million of multi-year orders for Digit v5, subject to the realization of certain contractual milestones, with a growing pipeline of over 30 customers, reflecting growing demand from enterprises preparing to deploy humanoid robots at scale.

“We believe humanoids are at a meaningful inflection point in commercial adoption, and we are focused on meeting growing customer demand, expanding deployments, and advancing our roadmap across robotics, physical AI, safety systems and enterprise software,” Johnson added. “As adoption accelerates, we believe Agility is positioned to address a market opportunity across manufacturing, distribution and logistics environments in the United States that is estimated by management to be approximately $1 trillion.”