This humanoid robotics company is going public, but its CEO isn’t promising a robot in your home anytime soon | TechCrunch
The humanoid robotics market is awash in money right now. Last week, AI2 Robotics, a Shenzhen-based startup that makes wheeled humanoid robots, raised roughly $735 million at a nearly $3 billion valuation. Earlier this year, Apptronik, an Austin-based maker of humanoid robots for manufacturing and logistics, closed a $935 million funding round valuing the company at more than $5.5 billion. Last fall, Figure AI, a San Jose-based startup developing general-purpose humanoid robots, self-reported that it closed on $1 billion in Series C funding at an eye-popping $39 billion valuation.
By comparison, Peggy Johnson, CEO of Agility Robotics, is surprisingly measured. We spoke by phone last week, just after the company 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 Agility at around $2.5 billion and is expected to raise more than $620 million in gross proceeds, the largest capital raise in humanoid robotics history. It hasn’t closed yet; the merger still needs shareholder approval and SEC review, and is expected to be completed later this year.
Agility was founded in 2015 as a spinoff from Oregon State University. Based in Salem, Oregon, the company makes bipedal humanoid robots designed to work in warehouses and factories. Its SPAC maneuver is notable for a few reasons. It would make Agility the first pure-play humanoid robotics company to trade on public markets, giving retail investors direct exposure to a sector that has so far been available primarily to deep-pocketed VC funds. It also offers a rare window into the finances of a business in a space where most competitors closely guard their numbers and even the state of the tech they are building.
Johnson — formerly executive vice president of business development at Microsoft, where she helped engineer the $26 billion acquisition of LinkedIn, and later CEO of Magic Leap, the once-hyped augmented reality headset maker — was careful throughout our conversation. She declined to offer forward-looking financial guidance, declined to disclose the bill of materials for Agility’s flagship robot Digit, and pushed back politely whenever questions veered toward speculation.
Asked why Agility is going public via a SPAC rather than raising another private round — a structure that skips the roadshow and pricing scrutiny of a traditional IPO — Johnson said much of it boils down to the first-mover advantage the company enjoys when it’s the first of its ilk to go public. For investors clamoring for shares in a buzzy robotics company, Agility is “an acceleration story and a timing story,” she said. The proceeds will also help Agility ramp up production at its 70,000-square-foot manufacturing facility in Salem, Oregon, and fulfill an existing pipeline of customer orders.
As for the troubled reputation of SPACs — many companies that went public that way in 2021 famously fizzled out entirely or trade well below their offering price — Johnson was unfazed. “If we just keep our head down, keep delivering customer by customer, robot by robot, we hopefully won’t experience the same volatility,” she said. “Our biggest competitor right now is just us. How quickly we can execute, how quickly we can continue to add new skills.”
The pipeline goes well beyond pilots, Johnson told TechCrunch, pointing to more than $300 million in booked, multi-year revenue that represents roughly 1,000 robots that are part of a robots-as-a-service model in which customers pay a monthly fee rather than purchasing the machines outright. “Everybody on our list right now is already vetted, and they have deployment plans behind their proof of concepts,” Johnson said. Customers include GXO Logistics, Amazon, Toyota Motor Manufacturing Canada, Schaeffler, and Mercado Libre.
Digit itself is a deliberately unfussy piece of hardware. It stands about 5’9″, weighs around 160 pounds, and is designed to do one thing exceptionally well, which is move heavy objects in human-built spaces. Its most distinctive feature is a set of reverse-bend knees — they’ve been called “bird legs” — that allow it to reach from floor level to overhead shelving without the knees colliding with warehouse racking. (Agility’s founders, Johnson explained, weren’t interested in biomimicry for its own sake.) The robot’s hands — two thumbs and two fingers — are similarly task-specific; they’re optimized for gripping heavy plastic totes, even as their contents shift in transit.
Johnson said Agility is “LLM-agnostic,” drawing on models including Claude and Gemini to handle what she calls the semantic layer — translating high-level instructions into robot behavior. She described a recent test in which engineers scattered different types of trash on the floor and told Digit simply to “clean up this mess.” The robot assessed, sorted, and binned everything correctly, including correctly identifying bubble wrap as non-recyclable.
Of course, it’s the physical layer — the mechanics of balance, locomotion, and manipulation — that Agility considers its core proprietary advantage, one built up over more than a decade of real-world deployment. “The LLMs had the entire internet to train on,” she said. “When you think about the physical AI of humanoids — that doesn’t quite exist yet.” At most companies, anyway. Johnson believes Agility is the exception: “We may have the largest data lake of actual operating robotics data in real-world environments.”
Beyond raw data, Johnson said, safety is where the gulf between Agility and its competitors is biggest and most consequential. While rival companies showcase their robots in lab demos and choreographed videos, Agility has had to meet actual industrial safety certification requirements to operate inside customer facilities. “You can’t build your robot and then make it safe,” she said. “That’s a redesign. You have to have all of the safety certified — the electrical system, all of the parts, and the software to support all of that.” (It’s not a trivial concern given that humans are often somewhere in the room. Back in November, Figure AI’s former head of product safety sued the company, alleging he was fired after raising concerns that its robots were powerful enough to fracture a human skull. Figure has disputed the claims.)
As for the home, Johnson thinks humanoids will get there eventually, but she said not to expect them to deliver breakfast in bed anytime soon. It’ll be “10-plus years,” she said of the timeline, observing that warehouses and factories, for all their complexity, have fixed aisles and predictable equipment and workflows unlike homes that are chaotic, with dogs, babies, visitors, and objects left in unexpected places.
“At least roads have some discipline to them,” Johnson added, comparing the challenge to that of autonomous vehicles. “Most of the areas that humanoids will be operating in don’t.”
Agility isn’t ruling out the home market. Johnson said the company will enter it when it makes sense. For now, though, it’s laser focused on the warehouse market, given the growing numbers of retiring workers and younger workers who aren’t willing to take physically demanding roles. “There’s something like over a million jobs in the US today in these areas that are unfilled,” she said. “They’re just very, very hard to hire for.”
The humanoid robotics market is awash in money right now. Last week, AI2 Robotics, a Shenzhen-based startup that makes wheeled humanoid robots, raised roughly $735 million at a nearly $3 billion valuation. Earlier this year, Apptronik, an Austin-based maker of humanoid robots for manufacturing and logistics, closed a $935 million funding round valuing the company at more than $5.5 billion. Last fall, Figure AI, a San Jose-based startup developing general-purpose humanoid robots, self-reported that it closed on $1 billion in Series C funding at an eye-popping $39 billion valuation.
By comparison, Peggy Johnson, CEO of Agility Robotics, is surprisingly measured. We spoke by phone last week, just after the company 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 Agility at around $2.5 billion and is expected to raise more than $620 million in gross proceeds, the largest capital raise in humanoid robotics history. It hasn’t closed yet; the merger still needs shareholder approval and SEC review, and is expected to be completed later this year.
Agility was founded in 2015 as a spinoff from Oregon State University. Based in Salem, Oregon, the company makes bipedal humanoid robots designed to work in warehouses and factories. Its SPAC maneuver is notable for a few reasons. It would make Agility the first pure-play humanoid robotics company to trade on public markets, giving retail investors direct exposure to a sector that has so far been available primarily to deep-pocketed VC funds. It also offers a rare window into the finances of a business in a space where most competitors closely guard their numbers and even the state of the tech they are building.
Johnson — formerly executive vice president of business development at Microsoft, where she helped engineer the $26 billion acquisition of LinkedIn, and later CEO of Magic Leap, the once-hyped augmented reality headset maker — was careful throughout our conversation. She declined to offer forward-looking financial guidance, declined to disclose the bill of materials for Agility’s flagship robot Digit, and pushed back politely whenever questions veered toward speculation.
Asked why Agility is going public via a SPAC rather than raising another private round — a structure that skips the roadshow and pricing scrutiny of a traditional IPO — Johnson said much of it boils down to the first-mover advantage the company enjoys when it’s the first of its ilk to go public. For investors clamoring for shares in a buzzy robotics company, Agility is “an acceleration story and a timing story,” she said. The proceeds will also help Agility ramp up production at its 70,000-square-foot manufacturing facility in Salem, Oregon, and fulfill an existing pipeline of customer orders.
As for the troubled reputation of SPACs — many companies that went public that way in 2021 famously fizzled out entirely or trade well below their offering price — Johnson was unfazed. “If we just keep our head down, keep delivering customer by customer, robot by robot, we hopefully won’t experience the same volatility,” she said. “Our biggest competitor right now is just us. How quickly we can execute, how quickly we can continue to add new skills.”
The pipeline goes well beyond pilots, Johnson told TechCrunch, pointing to more than $300 million in booked, multi-year revenue that represents roughly 1,000 robots that are part of a robots-as-a-service model in which customers pay a monthly fee rather than purchasing the machines outright. “Everybody on our list right now is already vetted, and they have deployment plans behind their proof of concepts,” Johnson said. Customers include GXO Logistics, Amazon, Toyota Motor Manufacturing Canada, Schaeffler, and Mercado Libre.
Digit itself is a deliberately unfussy piece of hardware. It stands about 5’9″, weighs around 160 pounds, and is designed to do one thing exceptionally well, which is move heavy objects in human-built spaces. Its most distinctive feature is a set of reverse-bend knees — they’ve been called “bird legs” — that allow it to reach from floor level to overhead shelving without the knees colliding with warehouse racking. (Agility’s founders, Johnson explained, weren’t interested in biomimicry for its own sake.) The robot’s hands — two thumbs and two fingers — are similarly task-specific; they’re optimized for gripping heavy plastic totes, even as their contents shift in transit.
Johnson said Agility is “LLM-agnostic,” drawing on models including Claude and Gemini to handle what she calls the semantic layer — translating high-level instructions into robot behavior. She described a recent test in which engineers scattered different types of trash on the floor and told Digit simply to “clean up this mess.” The robot assessed, sorted, and binned everything correctly, including correctly identifying bubble wrap as non-recyclable.
Of course, it’s the physical layer — the mechanics of balance, locomotion, and manipulation — that Agility considers its core proprietary advantage, one built up over more than a decade of real-world deployment. “The LLMs had the entire internet to train on,” she said. “When you think about the physical AI of humanoids — that doesn’t quite exist yet.” At most companies, anyway. Johnson believes Agility is the exception: “We may have the largest data lake of actual operating robotics data in real-world environments.”
Beyond raw data, Johnson said, safety is where the gulf between Agility and its competitors is biggest and most consequential. While rival companies showcase their robots in lab demos and choreographed videos, Agility has had to meet actual industrial safety certification requirements to operate inside customer facilities. “You can’t build your robot and then make it safe,” she said. “That’s a redesign. You have to have all of the safety certified — the electrical system, all of the parts, and the software to support all of that.” (It’s not a trivial concern given that humans are often somewhere in the room. Back in November, Figure AI’s former head of product safety sued the company, alleging he was fired after raising concerns that its robots were powerful enough to fracture a human skull. Figure has disputed the claims.)
As for the home, Johnson thinks humanoids will get there eventually, but she said not to expect them to deliver breakfast in bed anytime soon. It’ll be “10-plus years,” she said of the timeline, observing that warehouses and factories, for all their complexity, have fixed aisles and predictable equipment and workflows unlike homes that are chaotic, with dogs, babies, visitors, and objects left in unexpected places.
“At least roads have some discipline to them,” Johnson added, comparing the challenge to that of autonomous vehicles. “Most of the areas that humanoids will be operating in don’t.”
Agility isn’t ruling out the home market. Johnson said the company will enter it when it makes sense. For now, though, it’s laser focused on the warehouse market, given the growing numbers of retiring workers and younger workers who aren’t willing to take physically demanding roles. “There’s something like over a million jobs in the US today in these areas that are unfilled,” she said. “They’re just very, very hard to hire for.”
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#humanoid #robotics #company #public #CEO #isnt #promising #robot #home #anytime #TechCrunchagility robotics,Peggy Johnson,SPAC
![This former notorious red-light district is now one of the world’s top AI hubs | TechCrunch
What every U.K. AI startup wants to know these days is, how can I get office space in King’s Cross?
The area is so hot that a VC firm allegedly recently won a deal by promising a founder office space in the neighborhood. “We stop at nothing to win deals [for] and to support” founders, “including helping them source office space when needed,” the firm told me when asked about the rumor, declining to confirm or deny any details.
The neighborhood’s popularity began back in 2016 when DeepMind — then newly acquired by Google — moved in. Soon after, a flood of AI startups followed, wanting to be around the Google DeepMind magic. Today, they hope to take advantage of the cluster of AI talent there.
This has transformed King’s Cross into one of the world’s top AI hubs, rivaled only by San Francisco and Beijing. Around London, it’s known by the sobriquet “Knowledge Quarter,” as it’s home to names like OpenAI, Meta, Isomorphic Labs, Cusp AI, Wayne, Recursive, and, a little farther down the road, Synthesia and Anthropic. The European Technology Network (ETN) just moved into a glossy new office nearby, while University College London sits around the corner.
Mixed in with the new developments are trendy food spots like Hoppers and BAO. Hop a train from King’s Cross, and founders can be in Cambridge in 45 minutes to source talent or can be in Paris in two hours to strike a deal.
Who would have guessed that a little more than 20 years ago, this was one of the seediest areas in London?
“In the ’80s, crack and heroin made the area a major narcotics market,” Hussein Kanji, an investor at Hoxton Ventures, said, recalling syringes in tree trunks and gangs patrolling the streets. “In 1982, the local church was occupied by the English Collective of Prostitutes for 12 straight days.” Then, in the early 2000s, a real estate developer had a dream and, well, “now it is the AI hotbed of the United Kingdom,” Kanji said. “What a change.” Around 18 months ago, his portfolio company BioCorteX moved from the neighborhood Holborn to the Jellicoe building in King’s Cross, hoping to be near the action. “Lots going on in London right now,” Nik Sharma, co-founder of BioCorteX, told me. “Lots of hyperscalers moving in.” That includes, reportedly, Jeff Bezos’ AI company Prometheus, which is also said to be in talks to move into the Jellicoe.
There are around 3,600 AI startups in London, which, together, have raised around .1 billion out of the .8 billion raised in the city since late July, according to Dealroom. Since the start of June, AI-related startups have leased more than 1 million square feet of office space in London, according to the real estate firm Knight Frank. With that, prime rents in King’s Cross have risen 18% over the past three years, Chris Dunn, a commercial insight associate at the firm, told me. That percentage represents only the largest leases encompassing at least 10,000 square feet, like the ones OpenAI and Prometheus are signing. The shorter deals go for even more, he said, and now the vacancy rate for conventional office space is just 0.9%. “Demand has outstripped supply,” he continued.
Today, one of the big topics of the area is sovereignty. It was a wake-up call for many when Anthropic shut off access to Mythos and Fable this summer, leaving some in the ecosystem to conclude: “We’d better look after ourselves,” Saul Klein, co-founder of the VC firm Phoenix Court, told me.
Phoenix Court is located in the King’s Cross area and has three portfolio companies in the vicinity, including Olix (which just announced a .3 billion valuation), Early Health and CoMind. Robin Klein, co-founder of the firm, said the shutdown of Fable and Mythos access was a “small but sharp reminder that Europe can’t simply rent its AI capabilities and capacity; it needs to build and hold some of its own.” King’s Cross, he said, is where much of this building is actually happening.
“The bigger question,” he continued, “is whether the U.K. builds the infrastructure, compute, energy, capital, to make this self-reliance durable, rather than just hosting outposts of U.S. labs.”
Image Credits:Phoenix Court
Top founders want to stay
Simon Kohl, founder of Latent Labs, has offices in King’s Cross and San Francisco. The London office, at the moment, is growing faster, and he’s more bullish than ever on the ecosystem, he said. “The mood right now feels less like London trying to catch up and more like London becoming one of the default places to start a serious AI company,” he said. Look around and you are likely to see Wayve testing its autonomous cars. Founded in 2017 by co-founder Alex Kendall, the unicorn is one of London’s biggest success stories.
“Ten years ago, building a frontier AI company from London felt like an unusual choice,” Kendall told me. “Now it feels like an obvious one.” Wayve moved into King’s Cross in 2018 looking for a space that could double as a garage — “a rare combination in Central London,” Kendall said. He has watched the ecosystem mature around him — and it’s now evident that a startup can stay in London, raise serious capital, hire world-class AI talent, and remain globally competitive, he said. Down the street from Anthropic’s new 158,000-square-foot office is the AI agent builder Sierra and the AI video platform Synthesia.
Laura Gonzalez Florez, Synthesia’s chief of staff and head of people, says the company moved into its glossy new office building a year ago to accommodate its growing team. They were drawn to the area for the same reason as everyone else: “It’s very close to the airport … very close to where a lot of investors are,” she said.
Image Credits:Synthesia
Around two-thirds of Synthesia’s engineers are remote, Gonzalez Florez said, letting the company tap into an affordable, international, and diverse talent pool and helping it scale faster. “From London, we can hire and work, without any problem, people from anywhere, from Slovenia to Portugal,” she said.
Unsurprisingly, London’s AI boom is also causing a talent war.U.K. AI job postings have skyrocketed in the past few years, per data from PwC. When Anthropic announced it moved into town earlier this year, it listed, for example, a salary range of £260,000 to £630,000 for a machine learning research engineer when the average salary in London for the same role is around £102,000. Some founders in the U.K., like those in Silicon Valley, are being forced to raise more and bigger rounds to keep up.
“The real test is whether more globally significant AI companies are founded, funded, and scaled from the U.K., while continuing to attract the world’s best talent to build them here,” Zain Ali, founder of the King’s Cross-based AI legal firm Centuro, told me. “If that continues to happen, King’s Cross won’t just be an AI hub. It’ll become one of the U.K.’s most important strategic assets.”
When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.#Thisformernotorious #redlight #districtis #nowone #worlds #top #hubs #TechCrunchUK This former notorious red-light district is now one of the world’s top AI hubs | TechCrunch
What every U.K. AI startup wants to know these days is, how can I get office space in King’s Cross?
The area is so hot that a VC firm allegedly recently won a deal by promising a founder office space in the neighborhood. “We stop at nothing to win deals [for] and to support” founders, “including helping them source office space when needed,” the firm told me when asked about the rumor, declining to confirm or deny any details.
The neighborhood’s popularity began back in 2016 when DeepMind — then newly acquired by Google — moved in. Soon after, a flood of AI startups followed, wanting to be around the Google DeepMind magic. Today, they hope to take advantage of the cluster of AI talent there.
This has transformed King’s Cross into one of the world’s top AI hubs, rivaled only by San Francisco and Beijing. Around London, it’s known by the sobriquet “Knowledge Quarter,” as it’s home to names like OpenAI, Meta, Isomorphic Labs, Cusp AI, Wayne, Recursive, and, a little farther down the road, Synthesia and Anthropic. The European Technology Network (ETN) just moved into a glossy new office nearby, while University College London sits around the corner.
Mixed in with the new developments are trendy food spots like Hoppers and BAO. Hop a train from King’s Cross, and founders can be in Cambridge in 45 minutes to source talent or can be in Paris in two hours to strike a deal.
Who would have guessed that a little more than 20 years ago, this was one of the seediest areas in London?
“In the ’80s, crack and heroin made the area a major narcotics market,” Hussein Kanji, an investor at Hoxton Ventures, said, recalling syringes in tree trunks and gangs patrolling the streets. “In 1982, the local church was occupied by the English Collective of Prostitutes for 12 straight days.” Then, in the early 2000s, a real estate developer had a dream and, well, “now it is the AI hotbed of the United Kingdom,” Kanji said. “What a change.” Around 18 months ago, his portfolio company BioCorteX moved from the neighborhood Holborn to the Jellicoe building in King’s Cross, hoping to be near the action. “Lots going on in London right now,” Nik Sharma, co-founder of BioCorteX, told me. “Lots of hyperscalers moving in.” That includes, reportedly, Jeff Bezos’ AI company Prometheus, which is also said to be in talks to move into the Jellicoe.
There are around 3,600 AI startups in London, which, together, have raised around .1 billion out of the .8 billion raised in the city since late July, according to Dealroom. Since the start of June, AI-related startups have leased more than 1 million square feet of office space in London, according to the real estate firm Knight Frank. With that, prime rents in King’s Cross have risen 18% over the past three years, Chris Dunn, a commercial insight associate at the firm, told me. That percentage represents only the largest leases encompassing at least 10,000 square feet, like the ones OpenAI and Prometheus are signing. The shorter deals go for even more, he said, and now the vacancy rate for conventional office space is just 0.9%. “Demand has outstripped supply,” he continued.
Today, one of the big topics of the area is sovereignty. It was a wake-up call for many when Anthropic shut off access to Mythos and Fable this summer, leaving some in the ecosystem to conclude: “We’d better look after ourselves,” Saul Klein, co-founder of the VC firm Phoenix Court, told me.
Phoenix Court is located in the King’s Cross area and has three portfolio companies in the vicinity, including Olix (which just announced a .3 billion valuation), Early Health and CoMind. Robin Klein, co-founder of the firm, said the shutdown of Fable and Mythos access was a “small but sharp reminder that Europe can’t simply rent its AI capabilities and capacity; it needs to build and hold some of its own.” King’s Cross, he said, is where much of this building is actually happening.
“The bigger question,” he continued, “is whether the U.K. builds the infrastructure, compute, energy, capital, to make this self-reliance durable, rather than just hosting outposts of U.S. labs.”
Image Credits:Phoenix Court
Top founders want to stay
Simon Kohl, founder of Latent Labs, has offices in King’s Cross and San Francisco. The London office, at the moment, is growing faster, and he’s more bullish than ever on the ecosystem, he said. “The mood right now feels less like London trying to catch up and more like London becoming one of the default places to start a serious AI company,” he said. Look around and you are likely to see Wayve testing its autonomous cars. Founded in 2017 by co-founder Alex Kendall, the unicorn is one of London’s biggest success stories.
“Ten years ago, building a frontier AI company from London felt like an unusual choice,” Kendall told me. “Now it feels like an obvious one.” Wayve moved into King’s Cross in 2018 looking for a space that could double as a garage — “a rare combination in Central London,” Kendall said. He has watched the ecosystem mature around him — and it’s now evident that a startup can stay in London, raise serious capital, hire world-class AI talent, and remain globally competitive, he said. Down the street from Anthropic’s new 158,000-square-foot office is the AI agent builder Sierra and the AI video platform Synthesia.
Laura Gonzalez Florez, Synthesia’s chief of staff and head of people, says the company moved into its glossy new office building a year ago to accommodate its growing team. They were drawn to the area for the same reason as everyone else: “It’s very close to the airport … very close to where a lot of investors are,” she said.
Image Credits:Synthesia
Around two-thirds of Synthesia’s engineers are remote, Gonzalez Florez said, letting the company tap into an affordable, international, and diverse talent pool and helping it scale faster. “From London, we can hire and work, without any problem, people from anywhere, from Slovenia to Portugal,” she said.
Unsurprisingly, London’s AI boom is also causing a talent war.U.K. AI job postings have skyrocketed in the past few years, per data from PwC. When Anthropic announced it moved into town earlier this year, it listed, for example, a salary range of £260,000 to £630,000 for a machine learning research engineer when the average salary in London for the same role is around £102,000. Some founders in the U.K., like those in Silicon Valley, are being forced to raise more and bigger rounds to keep up.
“The real test is whether more globally significant AI companies are founded, funded, and scaled from the U.K., while continuing to attract the world’s best talent to build them here,” Zain Ali, founder of the King’s Cross-based AI legal firm Centuro, told me. “If that continues to happen, King’s Cross won’t just be an AI hub. It’ll become one of the U.K.’s most important strategic assets.”
When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.#Thisformernotorious #redlight #districtis #nowone #worlds #top #hubs #TechCrunchUK](https://techcrunch.com/wp-content/uploads/2026/08/DM9A2852.jpg?w=680)

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