Humanoid robotics firm Agility goes public in US robot bet

Agility, a US-based humanoid robotics firm, has gone public in a bid to establish itself in a market that has yet to materialize. The company, which completed a SPAC merger on Thursday, joins an increasing number of American humanoid makers seeking to automate factories and compete with China's rapidly expanding sector.

China's Unitree, a rival firm offering robots at a lower price point, listed in Shanghai in August and has since experienced a decline in value due to doubts surrounding actual demand versus hype. Agility CEO Peggy Johnson assured Semafor that the company remains well-capitalized, despite the challenging market conditions. The merger valued Agility at approximately $2.5 billion, with $300 million in orders for its most recent robot from an undisclosed customer.

Safety is a top priority for Agility, as humanoids currently cannot operate in factories without physical barriers. Insurers are reluctant to cover these robots without third-party certification. The company's latest model, Digit 5, is designed to work alongside people and could be certified next year. However, Agility and the industry at large must determine whether a safe robot is also agile enough to be valuable.

In a recent statement, Agility's chief robot officer acknowledged the necessity of the trade-off, but expressed dissatisfaction with Digit 5, describing it as "more like a forklift than the graceful humanoid I set out to build," adding that he "cannot love Digit 5."