Analysis
Agility Robotics began trading on the Nasdaq Stock Market on the morning of November 5 under the ticker AGLT, completing the SPAC merger it first covered by Pulse in October at a roughly $2.5 billion deal valuation, according to The Robot Report.
What changed since Pulse's last coverage
Pulse covered Agility's planned SPAC combination with Churchill Capital Corp XI on October 30, when the deal was still pending and expected to raise roughly $465 million. Churchill Capital Corp XI shareholders approved the combination on November 2, and the merged company began trading as AGLT three days later. The deal closed with approximately $465 million in gross proceeds before expenses, including a $201 million private investment in public equity led by Foxconn.
What Agility Robotics does
Spun out of Oregon State University in 2015 by co-founder and chief robot officer Jonathan Hurst, Salem, Oregon-based Agility is best known for Digit, a bipedal humanoid robot now deployed across nine customer sites, including AGCO, GXO Logistics, Schaeffler, Mercado Libre and Toyota Motor Manufacturing Canada. The company runs a hybrid model combining direct robot sales with robotics-as-a-service subscriptions, and says it already holds more than $300 million in committed multiyear orders for its next-generation Digit 5, with early-access deliveries expected in 2027.
“Pulse covered Agility's planned SPAC combination with Churchill Capital Corp XI on October 30, when the deal was still pending and expected to raise roughly $465 million.”
Agility reported just $1.78 million in revenue in 2025, up from $310,000 in 2024, against a net loss of $138.1 million, a gap the company is betting its order backlog and new public-market capital will close.
Agility's funding history
Agility raised a $400 million Series C in March 2025 at a valuation of about $2.12 billion, bringing its total funding to roughly $641 million before this week's SPAC proceeds.
That March 2025 round came before Agility announced the SPAC path to the public markets in June 2026 at a deal valuation of about $2.5 billion, as TechCrunch reported, a relatively modest markup over its last private round for a company going public.
Who backs Agility Robotics
Key existing investors include Amazon, Nvidia through its NVentures arm, SoftBank Vision Fund 2, DCVC, Playground Global, the Amazon Industrial Innovation Fund, Humanoid Global Holdings, Sony Innovation Fund and Safar Partners. Foxconn led the PIPE that helped fund the public listing.
Humanoid robotics market and competitors
Investment banks project the humanoid robotics market could reach $38 billion by 2035, Figure carries the sector's highest disclosed valuation among humanoid makers at about $39 billion as of 2026, Tesla has floated Optimus production targets of 1 million units per year by the late 2020s, and Unitree shipped more than 5,500 humanoids in 2025, targeting 10,000 to 20,000 in 2026, per Pulse's own comparison of humanoid robot makers. Bloomberg described Agility's Nasdaq debut as a first for the US humanoid robotics sector; none of Figure, Tesla's Optimus unit or Unitree has completed a US public listing of its own as of this week.
What to watch next
Agility's stock now carries quarterly disclosure requirements its private peers don't face, starting with how the market prices $1.78 million in revenue against a $2.5 billion deal valuation, and whether the company hits its 2027 target for first Digit 5 deliveries to early-access customers.