The human robotics company Agility Robotics plans to be listed through a merger with the special purpose acquisition company Church Capital Corp XI. The company disclosed that the transaction was valued at approximately $2.5 billion for Agility and was expected to bring in more than $620 million.

Raised more than $620 million

Some $200 million of this amount came from a group of old and new institutional investors. According to Agility, the funds will be used mainly to expand the next generation of Digit v5, to complete the delivery of existing orders and to continue to promote products to new and old clients.

Agility was founded in 2015 by the Oregon State University. The company's most active product is a double-footed robot, Digit, which has been operational in nine client sites, including Scheffler, GXO, Toyota Motors Canada and Mercado Libre.

The new generation has been ordered over the years

The company disclosed that Digit v5 had received multi-year orders in excess of $300 million and that more than 30 potential clients were assessing large-scale deployment programmes. This implies a shift in its commercialization focus from pilot validation to a broader enterprise landing.

In his statement, the Chief Executive Officer of Agility, Peggy Johnson, stated that human robots were expected to increase production efficiency, improve supply chain resilience and promote technological competitiveness in the United States. She stated that Agility had deployed commercial human robots to the physical operating environment of its clients, helping enterprises to cope with labour shortages, improve efficiency and introduce AI-driven automation.

Stock code after listing is AGLT.

Upon completion of the transaction, the merged company is expected to be listed on a North American stock exchange with the stock code AGLT. However, the specific listed location has not yet been published.

Additional information:Agility was previously supported by Amazon, Nvidia, Soft Silver Vision II and DCVC, which, if successfully completed, would add another open market company to the human robotic track.