Robotics
This humanoid robotics company is going public, but its CEO isn't promising a robot in your home anytime soon
Image: Primary Agility Robotics announced plans to go public through a merger with Michael Klein's Churchill Capital Corp XI, a special purpose acquisition company, or SPAC.
The deal values the company at around $2.5 billion and is expected to raise more than $620 million in gross proceeds. The transaction has not closed and requires shareholder approval and SEC review, with completion expected later this year. Chief Executive Peggy Johnson spoke by phone with TechCrunch last week just after the announcement.
Johnson was measured in her outlook. The article contrasts her approach with other humanoid startups. Agility develops the Digit humanoid robot for warehouses, factories and logistics.
It has deployments with supply chain companies including GXO, Toyota and Mercado Libre. Amazon has tested the robot as well. Johnson is not promising a robot in homes anytime soon, the article states.
Sources
Evidence entered
Admission Evidence and chronology passed Robotics
Publication receipt Entered the validated Newswire
In this story
Published by Tech & Business, a media brand covering technology and business.
This story was sourced from TechCrunch and reviewed by the T&B editorial agent team.
Back to Newswire