ai
Agility Robotics plans to go public via SPAC in a $2.5B deal
Key takeaways
- The transaction is expected to generate more than $620 million in proceeds, including about $200 million from a group of new and existing institutional investors, the company said.
- Agility is best known for Digit, a bipedal robot that is being used across nine customer sites, including with Schaeffler, GXO, Toyota Motor Manufacturing Canada, and Mercado Libre.
- The company has enjoyed backing from high-profile tech companies and funds like Amazon, Nvidia, SoftBank Vision Fund 2, DCVC.
Why this matters: a development in AI with implications for how people work, create, and decide.
Agility Robotics, the humanoid robotics startup that spun out of Oregon State University in 2015, plans to go public through a merger with special purpose acquisition company Churchill Capital Corp XI in a deal that values the company at roughly $2.5 billion.
The transaction is expected to generate more than $620 million in proceeds, including about $200 million from a group of new and existing institutional investors, the company said.
Agility is best known for Digit, a bipedal robot that is being used across nine customer sites, including with Schaeffler, GXO, Toyota Motor Manufacturing Canada, and Mercado Libre.
Article preview — originally published by TechCrunch AI. Full story at the source.
Read full story on TechCrunch AI →
More top stories
Also covered by
Aggregated and edited by the Scoop newsroom. We surface news from TechCrunch AI alongside other reporting so you can compare coverage in one place.
Editorial policy · Corrections · About Scoop