Humanoid robotics is awash in cash right now. AI2 Robotics raised $735M at a $3B valuation. Apptronik closed $935M. Figure AI snagged $1B at a $39B valuation.
And then there’s Agility Robotics. CEO Peggy Johnson is refreshingly grounded.
Agility plans to go public through a SPAC merger with Churchill Capital Corp XI at a $2.5 billion valuation — the largest capital raise in humanoid robotics history. It’d be the first pure-play humanoid company on public markets.
But Johnson isn’t promising robots in every home. “10-plus years,” she says. Warehouses and factories first.
Agility’s robot, Digit, is 5’9″, 160 pounds, with reverse-bend knees that look like bird legs. It’s not trying to be a replica of a human. It’s designed to move heavy totes in warehouses. That’s it. Two thumbs, two fingers — optimized for gripping plastic bins.
The company has over $300 million in booked, multi-year revenue. About 1,000 robots deployed under a robots-as-a-service model. Customers include GXO Logistics, Amazon, Toyota, and Mercado Libre.
Johnson says Agility is “LLM-agnostic” — using Claude, Gemini, and others for what she calls the semantic layer. The real advantage, she says, is the physical layer: a decade of real-world deployment data and actual industrial safety certifications. Competitors show choreographed videos. Agility has to meet real certification standards to operate in customer facilities.
“You can’t build your robot and then make it safe,” she said. “That’s a redesign.”
The SPAC structure has baggage — many 2021 SPACs flamed out. Johnson’s not worried. “If we keep our head down, robot by robot, we won’t experience the same volatility.”
She’s betting on execution, not hype. Refreshing, honestly.
