Agility Robotics Goes Public
Agility Robotics, a maker of bipedal humanoid robots, plans to go public via a SPAC merger, valuing the company at $2.5 billion, in the largest capital raise in humanoid robotics history.
Key points
- Agility Robotics, founded in 2015 as a spinoff from Oregon State University, makes bipedal humanoid robots for warehouses and factories.
- The company plans to go public through a merger with Churchill Capital Corp XI, a special purpose acquisition company, valuing Agility at around $2.5 billion.
- The deal is expected to raise more than $620 million in gross proceeds, the largest capital raise in humanoid robotics history.
- The merger still needs shareholder approval and SEC review, and is expected to be completed later this year.
- Agility's valuation is lower than some of its competitors, such as Figure AI, which is valued at $39 billion, and Apptronik, which is valued at $5.5 billion.
The humanoid robotics market is experiencing significant investment, with several companies raising large funding rounds in recent months. Agility Robotics, based in Salem, Oregon, is the latest company to make headlines with its plans to go public. The company's CEO, Peggy Johnson, has taken a measured approach, avoiding promises of robots in every home. Instead, the company is focused on developing bipedal humanoid robots for use in warehouses and factories. The planned merger with Churchill Capital Corp XI is expected to be completed later this year, pending shareholder approval and SEC review. The deal values Agility at around $2.5 billion, making it one of the largest companies in the humanoid robotics market.
Sources
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