Agility Robotics to Go Public at $2.5 Billion, Backed by Foxconn

Agility Robotics will go public through a merger with special purpose acquisition company Churchill Capital Corp XI. The transaction values the humanoid robot developer at approximately $2.5 billion.

The deal expects to generate over $600 million in gross proceeds to fuel expansion. Funding includes Churchill’s trust account and a private investment led by electronics manufacturer Foxconn.

Agility’s bipedal robot, Digit, performs warehouse and logistics tasks for customers including Amazon. The combined entity will trade under the ticker symbol AGLT.