The first U.S. humanoid robot stock rang the listing bell today, with a valuation of approximately 2.5 billion US dollars.

The bell of Nasdaq has finally witnessed the listing of the first U.S. humanoid robot public enterprise.

On November 4 local time in the United States, Agility Robotics announced that it has completed the business combination with special purpose acquisition company Churchill Capital Corp XI. The combined company is expected to start trading on Nasdaq on November 5 under the ticker symbol "AGLT".

This means that a U.S. robotics enterprise with humanoid robots as its core business and already deployed in commercial scenarios has officially entered the public capital market.

According to the previously disclosed transaction plan, the enterprise valuation corresponding to Agility Robotics' listing this time is about 2.5 billion U.S. dollars, and the transaction and related financing are expected to bring about 465 million U.S. dollars in funds to the company.

Founded in 2015 and headquartered in Salem, Oregon, the United States, Agility Robotics mainly develops humanoid robots for scenarios such as logistics and manufacturing. Its core product Digit is a bipedal humanoid robot that can perform repetitive tasks such as material handling and turnover box transfer in environments like warehouses and factories.

Compared with humanoid robot enterprises such as Tesla Optimus and Figure, Agility Robotics took commercial deployment as its main development direction earlier.

At present, Digit has been put into the actual operation scenarios of enterprises including GXO, Schaeffler, and Toyota Motor Manufacturing Canada. Among them, the logistics enterprise GXO is an important commercial customer of Agility Robotics. The two parties have previously deployed Digit in logistics facilities to handle repetitive handling tasks in the warehousing link.

In October this year, Agility Robotics further announced the expansion of cooperation with GXO, planning to deploy Digit at two additional facilities in the United States in early 2027. In addition, the company also signed a commercial agreement with agricultural machinery manufacturer AGCO, planning to carry out robot pilot projects at its plant located in Kansas, the United States in 2027.

According to the data disclosed by Agility Robotics, up to now, the cumulative operating time of its robots in real commercial environments has exceeded 65,000 hours.

In terms of orders, the company said that the new-generation humanoid robot Digit 5 has obtained multi-year order commitments of more than 300 million U.S. dollars.

Digit 5 was released in September this year, with a focus on improving the collaboration capability of robots working with human employees in the same working environment. According to the company's plan, this product is expected to start delivery to early customers in the first half of 2027, and be available to a wider range of commercial customers by the end of 2027.

In terms of manufacturing capacity, Agility Robotics has built a humanoid robot manufacturing plant named RoboFab. According to the previously announced plan, the plant has a maximum designed annual production capacity of 10,000 robots. However, this figure refers to the designed production capacity, not the actual output that the company has currently achieved.

This listing will also provide financial support for Agility Robotics' subsequent product R&D, manufacturing expansion and commercial deployment.

According to the transaction arrangement announced on November 2, the expected financing scale of about 465 million U.S. dollars is mainly composed of three parts: about 164 million U.S. dollars from the trust account of Churchill Capital Corp XI, about 201 million U.S. dollars from private equity financing, and another 100 million U.S. dollars from previously obtained equity funds. At the same time, the private financing of about 201 million U.S. dollars is led by Foxconn, with an issue price of 10 U.S. dollars per share.

It is worth noting that although Agility Robotics has achieved commercial deployment and obtained hundreds of millions of U.S. dollars in multi-year order commitments, its commercialization is still in the early stage.

From the perspective of the industry, current global humanoid robot enterprises are accelerating the transition from technology demonstration to commercial application.

Tesla continues to advance the R&D and production preparation of Optimus, and enterprises such as Figure, Unitree, Agibot, and Ubtech are also expanding their layout in industrial and commercial scenarios.

Agility Robotics' landing on Nasdaq this time has further brought the commercialization progress of humanoid robot enterprises into the scope of scrutiny by the public capital market.

For this robotics company that has been established for more than ten years, listing is not the end of commercialization.

With the planned delivery of Digit 5 starting in 2027 and the expansion of deployment scale for existing customers, what Agility Robotics needs to demonstrate to the capital market next is not only what tasks the robots can complete, but also whether orders can be continuously converted into revenue, and whether large-scale delivery can improve the company's operating performance.

This article is from the WeChat Official Account "Core Smart Headlines", Author: Time, Editor: Mark, published with authorization from 36Kr.