Agility Robotics announced today it will go public by merging with Churchill Capital Corp XI, a shell company listed on Nasdaq specifically built to acquire a business and take it public. The deal values Agility at $2.5 billion before the transaction closes.
The total expected proceeds are over $620 million. That breaks down as roughly $420 million sitting in Churchill's account, plus $200 million in new investment led by Foxconn, the Taiwan-based electronics manufacturer that already holds a stake in Agility. All existing Agility shareholders are rolling their equity into the combined company and face a 180-day period where they cannot sell their shares after the deal closes.
The man running Churchill is Michael Klein, one of the most active blank-check dealmakers in recent years. He previously used the same structure to bring nuclear startup Oklo and electric vehicle maker Lucid to public markets through the same vehicle type.
Agility's robot is called Digit. It stands about 5'9'', walks on two legs, and can carry loads of up to 35 pounds. It uses cameras and sensors to navigate spaces built for humans, without needing facilities to be redesigned around it. The current price is around $250,000 per unit, and businesses can also lease it through a subscription model rather than buying outright.
The deployment record is real, which sets Agility apart in a space full of companies showing videos. Digit has accumulated over 65,000 hours of operation across nine customer sites. At a GXO logistics facility near Atlanta, it has moved more than 100,000 storage containers since June 2024. At Schaeffler's factory in South Carolina, it has been running 8-hour daily shifts since early 2025. Toyota Motor Manufacturing Canada and Mercado Libre, Latin America's largest e-commerce platform, are also signed commercial customers.
The next model, Digit v5, is designed to work directly alongside people without physical barriers separating the robot from human workers. That is a meaningful step: current industrial robots typically require fenced-off zones. Agility says it has secured more than $300 million in multi-year orders for v5, with over 30 potential customers evaluating large-scale deployments.
The valuation requires context. Agility has approximately 75 units deployed globally. At $2.5 billion, investors are pricing in a future where production scales significantly. The company's manufacturing facility in Salem, Oregon has a stated capacity of over 10,000 units per year, but it is nowhere near that today. For comparison, Figure AI, a well-funded rival backed by Microsoft and Nvidia, was recently valued at nearly $40 billion despite having no publicly disclosed deployment data comparable to Agility's.
Going public changes the game in one specific way: Agility will now have to report real financial numbers every quarter. Revenue, losses, order fulfillment rates, and customer retention will all become public. That transparency is useful for anyone evaluating the sector, because right now most humanoid robotics numbers come from company press releases.
For operators in warehousing, logistics, and light manufacturing, the practical question is not whether to buy Agility stock. It is whether humanoid robots are moving fast enough to require planning now. The evidence from Agility's actual deployments says the technology works for specific, repetitive tasks in controlled environments. It does not yet work everywhere, and at $250,000 per unit plus ongoing costs, it is still priced for large operations only. That will likely change as production scales and competitors push pricing down, but the timeline is measured in years, not months.