Agility Robotics is said to be going public through a SPAC transaction valued at $2.5 billion.

      Agility Robotics, the Oregon-based startup responsible for the bipedal Digit robot, is reportedly in discussions to become a public entity through a merger with a special-purpose acquisition company, which would value the firm at approximately $2.5 billion, according to the Wall Street Journal.

      The specifics remain unverified, the identity of the SPAC partner is undisclosed, and the company has not publicly commented, so this figure should be interpreted as indicative of ongoing negotiations rather than a finalized agreement.

      Regardless, such an implied valuation would represent an increase from Agility's last assessed value in private markets. The company secured $400 million in Series C funding in March 2025, with a valuation of around $2.12 billion, and has accumulated over $640 million in total funding throughout its history.

      The latest buzz from the EU tech sector, an insight from our esteemed founder Boris, and some dubious AI-generated artwork are included in our weekly newsletter, which you can subscribe to for free! A SPAC merger valued between $2.5 billion and $3 billion would highlight a public market premium for a company whose main selling point is that its robot is actively working for paying clients.

      This is the key selling assertion that Agility emphasizes. Digit, a 1.75-meter humanoid developed from Oregon State University, has managed to generate revenue from actual commercial deployments instead of merely demonstration videos, having moved over 100,000 totes in a GXO Logistics facility and signed a multi-year robots-as-a-service agreement.

      Amazon’s Industrial Innovation Fund made an early investment in the company's growth, indicating interest from the world’s largest potential purchaser of warehouse labor automation. The robots-as-a-service model is critical to Agility's strategy. Instead of outright selling the hardware, Agility rents Digit to logistics operators via subscription, which aims to reduce adoption hurdles and establish a recurring revenue stream rather than only one-off sales.

      Agility has geared Digit for repetitive tasks in warehouses, such as transporting totes between conveyors and storage, focusing on work that is tedious, physically demanding, and consistently difficult to staff.

      The path Agility is reportedly pursuing is significant in itself. Many highly capitalized humanoid firms remain private and have raised enormous amounts of money. For instance, Figure AI is valued in the tens of billions, and China’s Unitree has filed for an IPO with an estimated valuation of $7 billion after outperforming Tesla in sales of humanoid units.

      On the other hand, a SPAC presents a quicker and historically more accommodating route to going public, similar to the method that launched a range of speculative hardware companies during the 2021 boom, not all of which managed to withstand the scrutiny of the public market.

      This is occurring in a sector flooded with capital but lacking in revenue. Global investment in robotics and physical AI hit $27.6 billion in 2025, more than double that of the previous year, with funds directed towards companies at various levels of actual sales activity. Some of this funding targeted humanoid robotics, while others focused on companies arguing against that format, such as wheeled-robot manufacturers who deem legs an expensive distraction.

      China’s humanoid market is already facing challenges in commercial viability, with around 150 companies competing in a space where most potential buyers report dissatisfaction. In this context, Agility's appeal to public investors would emphasize actual deployments over mere demonstrations: a robot that generates revenue in warehouses, a prominent logistics client, and a connection to Amazon.

      Whether this will be sufficient to justify a multi-billion-dollar public offering, and whether the valuation will settle at $2.5 billion, $3 billion, or another figure upon filing, will become clearer in the coming weeks. Currently, the company has not confirmed the negotiations or identified the SPAC involved.