Sarcos Announces SPAC Deal to Bring Robotic Exoskeletons to Market

Sarcos Robotics to Go Public via SPAC Merger

Although the venture capital landscape has seen a surge in Special Purpose Acquisition Company (SPAC) activity, this method hasn't significantly impacted the robotics sector, with exceptions like Berkshire-Grey. Today, Sarcos Robotics, headquartered in Utah, revealed its intention to utilize a SPAC merger, facilitated by Rotor Acquisition Corp.

Deal Valuation and Potential

The transaction could result in a combined valuation of $1.3 billion for the robotic exoskeleton developer and the blank check company, alongside a potential earn-out of $281 million. Sarcos operates within the competitive field of robotic exoskeletons.

What Distinguishes Sarcos Robotics?

Beyond its distinctive, visually striking design reminiscent of James Cameron’s futuristic aesthetics, several factors set Sarcos apart. Strategic partnerships have been a crucial element of the company’s growth.

Key Partnership with Delta Air Lines

A significant partnership was established at CES 2020, positioning Sarcos at the core of Delta’s technological advancements showcased at the event.

Delta CEO Ed Bastian emphasized the importance of employees, stating, “Delta’s employees are the key ingredient to our success, and we are committed to reducing on-the-job injuries as well as fostering workforce diversity and improving worker longevity for a healthier and safer team.” He further expressed continued confidence in Sarcos’ capabilities.

The airline announced a collaborative effort to test the exoskeletons with its personnel. Sarcos highlighted the technology’s ability to enable users to handle payloads of up to 200 pounds for extended periods—up to eight hours—without experiencing fatigue.

This aligns with Sarcos’ focus on industrial applications for wearable robotics.

Funding and Product Roadmap

In late 2020, the company secured $40 million in funding to accelerate the commercialization of its Guardian XO exoskeleton. The latest announcement indicates an expected delivery timeframe for the Guardian XO system in the middle of the coming year.

The teleoperated Guardian XT is projected to follow in the subsequent year.

U.S. Navy Grant

Sarcos received a grant from the U.S. Navy in October of last year to develop remotely operated versions of its XO system. This demonstrates the continued importance of military funding as a catalyst for innovation within the robotics industry.