Agility Robotics to List on Nasdaq as First US Public Humanoid Robot Company

IT Home November 5 news, according to Bloomberg reports, the American humanoid robot company Agility Robotics is about to become the first listed company in the United States focused on humanoid robots, which also marks an important step for this emerging industry. However, there are still many issues in the humanoid robot industry that await verification.

This startup will list on the Nasdaq this Thursday local time, with the stock ticker “AGLT”. Previously, Agility Robotics has completed a merger with the special purpose acquisition company Churchill Capital Corp. XI. According to the company statement, upon completion of this transaction, Agility Robotics has approximately 465000000 USD in cash on hand. (IT Home Note: At the current exchange rate, this is approximately 3,109,000,000 yuan) (excluding relevant costs), which include those primarily by Apple Inc. iPhone A round of approximately 201,000,000 USD led by the assembly partner Foxconn (at the current exchange rate, this is approximately 1,344,000,000 yuan) private equity investment. Other well-known investors also include NVIDIA, Amazon, and SoftBank Vision Fund 2.

Agility Robotics is one of many humanoid robot R&D enterprises. These types of robots use humans as design prototypes, are usually capable of walking upright, and some also adopt wheeled mobility structures. Currently, humanoid robots are mainly applied in commercial scenarios such as warehouses and factories. The Chinese enterprise Unitree Technology listed in Shanghai in August this year, while Agility Robotics is the first of its kind to be listed in the United States.

This startup, headquartered in Oregon, USA, currently has approximately 400 employees and is further expanding its cooperation with GXO Logistics to deploy its robots into more logistics facilities. Additionally, the company is also cooperating with AGCO to carry out manufacturing pilot projects.

Agility Robotics CEO Peggy Johnson stated in an interview that as AI extends from the digital world to the physical world, the next stage of development might be the more noteworthy part. What she refers to is that artificial intelligence is being applied to robots and other hardware devices.

Johnson stated: “Introducing intelligent robots into more workplaces holds enormous opportunities. When machines and humans truly begin to work collaboratively, the way many things are achieved will undergo fundamental changes.”

Agility Robotics believes that its latest humanoid robot, Digit 5, is expected to alleviate labor shortages, especially in the warehousing industry. This robot was released in September this year and is capable of performing more complex tasks, such as loading materials onto equipment, sorting parts, and inspecting items.

In contrast, the previous generation Digit 4 was primarily responsible for relatively simple tasks such as stacking plastic storage bins. Digit 5 can also operate safely near personnel, whereas previous versions had to run behind physical safety barriers, which limited the robot's ability to take over human jobs.

Agility Robotics stated that it has currently obtained over 300,000,000 USD (equivalent to approximately 2,006,000,000 RMB at the current exchange rate) Digit 5 multi-year order commitments. The company's robots have been deployed by 9 customers, and it is currently engaged in active sales negotiations with over 30 potential commercial customers.

This startup has committed to deploying Digit at 12 customer facilities and plans to expand its potential customer pipeline to 100 by the end of 2027, covering multiple industries such as automotive, retail, and pharmaceuticals.

Johnson cited a 2024 study by Deloitte pointing out that by 2033, the number of jobs that U.S. manufacturing cannot fill is expected to increase to approximately 1900000.

She stated: “The labor shortage gap that Digit is good at filling is still expanding. Many enterprises are not clear on how to find enough manpower to complete those jobs that are difficult to recruit for and have high turnover rates.”

Johnson previously served as the CEO of the augmented reality and mixed reality company Magic Leap. She believes that as Wall Street gradually recognizes this brand-new industry category, the market still needs to undergo a process of cognition and learning. However, she stated that Agility Robotics should be evaluated according to the same standards as other automation technology suppliers, including metrics such as operational throughput and accuracy.

She stated: “I think, a very noteworthy point is that Digit 5 supports upgrading via wireless methods, and we can use this to teach it new skills. As robots are deployed to more locations, the data we collect will also increase, and this data will form a continuously self-reinforcing training loop.”

Currently, humanoid robots that walk on two legs, such as Digit 5, still face some unique challenges. Compared to similar devices that use wheeled mobility, these robots have lower predictability during operation and pose higher safety risks to surrounding personnel.

Johnson stated that, as the first humanoid robot company to go public, Agility Robotics does indeed feel a certain amount of pressure. She said: “We are the first company to go public, and other companies will all focus on our performance, not only focusing on relevant performance indicators but also focusing on performance in terms of safety.”

However, she added that the company has already accumulated a large amount of experience in the process of carrying out actual deployments in different environments over the past few years.

Johnson stated: “Demonstrations can show what technology can do, but real deployment is what lets you understand which solutions are actually feasible. Over the past three years, we have learned a lot. Now, we are already able to enter these facilities, undertake actual work, and generate revenue by providing services.”