Knightscope Inc. today announced that it has raised $22.36 million through the sale of 2.2 million shares of its Class A common stock priced at $10 per share. The company, which has developed mobile security robots, plans to use the funding to continue scaling its fleet.
“We’ve brought on thousands and thousands of new investors in Knightscope as we embark on the second chapter of a very long book in helping to make the United States of America the safest country in the world,” stated William Santana Li, chairman and CEO of Knightscope. “I am forever grateful for our relentless team and the 28,000+ investors that helped write the first chapter in our journey – a heartfelt and sincere thank you.”
Founded in 2013, Knightscope said its Autonomous Security Robots (ASRs) are intended to deter, detect, and report on crime and other activities. The Mountain View, Calif.-based company claimed that its ASRs can conduct 24/7 patrols and have already logged more than 1 million hours of service with paying customers across the U.S.
Security robots successfully deter crime
Knightscope's ASRs include the K1 stationary system, which can be outfitted with elevated body temperature (EBT) detection for COVID-19 screening. The company's compact K3 mobile robot is designed for indoor spaces.
The K5 mobile robot has been in outdoor usage since 2015, and Knightscope is developing the wheeled, multi-terrain K7. In addition, the company offers its cloud-based Knightscope Security Operations Center (KSOC).
Knightscope claimed that its security robots have led to 10% fewer calls for service and a 46% decrease in reported crime.
Knightscope begins Nasdaq trading
Knightscope, which initially announced its initial public offering of up to $40 million in December 2021, began trading on the the Nasdaq stock exchange today under the ticker symbol “KSCP.”
Digital Offering LLC acted as the lead managing selling agent and sole bookrunner for the offering. “As pioneers in Regulation A+ and the JOBS Act for years, having developed a methodology that allows companies to reach a diverse audience of investors and trade on a National Securities Exchange, we are thrilled to be a part of this historic moment,” said Mark Elenowitz, managing director of Digital Offering.
“Knightscope [is leading] us into exciting new territory where companies that utilized Regulation A+ for their initial capital raises can graduate to National Securities Exchanges to access the capital markets while providing liquidity to the initial supporters and investors,” he added.
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