Agility Robotics

Executive summary
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Agility Robotics is the first company in the humanoid robotics sector to move beyond pilots into real-world, revenue-generating deployments. Its flagship robot, Digit, is purpose-built for human environments such as warehouses, factories, and other spaces designed for people, making it uniquely suited to integrate into existing workflows without major infrastructure changes.

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Born from world-class robotics research and strengthened by strategic partnerships with companies like Amazon, Agility is scaling both its technology and manufacturing capacity to meet surging industrial demand. Safety is central to its approach, with Digit currently the only humanoid robot to receive workplace safety approval, and full collaborative clearance expected by late 2025.

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With pilots converted into paying deployments, production capabilities for up to 10,000 units per year, and backing from heavyweight investors including Amazon and DCVC, Agility is positioned at the inflection point of a market expected to transform global labor over the next decade.
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Overview

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Founded in 2015 in Albany, Oregon, Agility Robotics is a spin-out from Oregon State University’s Dynamic Robotics Lab, co-founded by professor Jonathan Hurst. The company’s first creation, Cassie (2016), was a bipedal research platform modeled on the biomechanics of flightless birds. Cassie’s efficient, stable gait became the foundation for the company’s next leap: building full-bodied humanoid robots.

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By 2017, Agility introduced the first version of Digit, adding arms, a torso, and vision systems to Cassie’s lower body. Initially sold for R&D, Digit soon found its way into commercial pilots. In 2020, Ford tested Digit in last-mile delivery experiments. By 2021, Agility pivoted toward warehouse logistics, a market with pressing labor shortages and high automation potential.

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Today, Digit operates under a Robot-as-a-Service (RaaS) model with customers like GXO Logistics, where it moves totes from storage to conveyor belts at a Spanx facility, tasks that are repetitive, physically demanding, and ideal for automation. At Amazon’s robotics R&D facility, Digit handles tote recycling and movement within aisles, serving as a live operational test for broader fulfillment center deployment.

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To meet demand, Agility opened RoboFab in Salem, Oregon, a 70,000 sq ft facility capable of producing up to 10,000 Digit units annually. This positions Agility not only as a robotics innovator but also as one of the first to scale humanoid robot manufacturing.

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Strategic Rationale
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The humanoid robotics market is entering a once-in-a-generation inflection point, transitioning from research prototypes to real-world deployments. Unlike digital AI, which delivers only cognitive outputs, humanoid robots can perform physical labor at scale, directly addressing the global labor shortage while unlocking productivity gains across logistics, manufacturing, and beyond.

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Agility Robotics stands out in this emerging field for three reasons:
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• Proven commercial deployments: Digit is already working in live industrial environments for paying customers such as GXO Logistics and Amazon. This early proof of operational readiness reduces adoption risk and accelerates the path to scale.
• Uncompromising focus on safety and security:  As the only humanoid robot with workplace safety approval today, Digit is designed from the ground up for human-robot collaboration. Full collaborative clearance is expected by late 2025, positioning Agility to lead in regulated, safety-critical environments.‍
• Flexible hardware and software architecture: Agility’s hardware is software-agnostic. This flexibility opens the door to swap models to the best ones in the market. The Arc operates and orchestrates fleets of robots, vastly expanding addressable market potential and creating multiple monetization pathways beyond hardware sales.
  

Backed by Amazon, DCVC, and other leading investors, Agility is building not just a robot but an entire commercial and software ecosystem. With the capacity to produce up to 10,000 units annually at its RoboFab facility and the ability to scale its software across diverse platforms, the company offers a unique blend of near-term revenue potential and long-term strategic optionality.
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Share Class
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The DAO holds preferred shares, Series C-3 Preferred Stock, in Agility Robotics, offering key investor rights such as a 1x non-participating liquidation preference, standard conversion to common stock, broad-based weighted average anti-dilution protection, and pro rata participation in future funding rounds.

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This share class provides stronger downside protection than common shares.

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Potential Liquidation Events
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Agility Robotics operates in one of the fastest-growing technology sectors, with clear strategic value to both public market investors and major technology platforms.  Agility Robotics is likely to follow one of two liquidity paths by 2030:

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• Initial Public Offering (IPO): With proven commercial deployments, scaled manufacturing capacity, and growing investor interest in automation, Agility is well-positioned for a successful public market debut as robotics becomes a mainstream investment theme.
• Strategic acquisition: A technology leader such as Amazon could acquire Agility to fast-track its automation roadmap. The synergies are clear: Amazon is both a current customer and a potential scale buyer, and could integrate Agility’s Arc cloud platform into AWS to offer robotics-as-a-service capabilities across industries.
  

While no specific outcome is guaranteed, the company’s market position, strategic relevance, and high-caliber investor base make one of these scenarios highly plausible within the next five years.

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Key Risks & Considerations
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While humanoid robotics offers exceptional upside, several material risks remain:
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1. Execution risk
Scaling complex hardware and AI systems, while maintaining manufacturing quality, operational reliability, and cost control, is a significant challenge. Even well-funded teams can encounter setbacks in supply chain, production ramp, or field performance.

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2. Competitive pressure
Entrants like Tesla and Figure AI bring substantial capital, engineering talent, and manufacturing expertise to the same early target markets (manufacturing and logistics). While we believe the addressable market is large enough to support multiple winners, competition will influence pricing power and adoption speed.

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3. Regulatory and adoption hurdles
Public safety concerns, resistance to perceived job displacement, or high-profile safety incidents could slow adoption. Regulatory frameworks for human-robot interaction are still evolving, and delays in setting clear standards could impact deployment timelines.

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Despite these challenges, Agility’s early commercial traction, differentiated focus on safety, and strategic flexibility via its robot-agnostic software make it a high-conviction, mission-aligned allocation for the XMAQUINA DAO, offering asymmetric upside in a market poised for exponential growth.

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