Knightscope, a US-based autonomous security system developer backed by corporates NTT Docomo, Konica Minolta and Flextronics, has raised more than $15.9m in a regulation A+ public offering.
The second close comes just over a month after the company secured an initial $10m of its targeted $20m total. The offering values Knightscope at $80m pre-money, and is taking place on equity crowdfunding platform SeedInvest. It will close on October 10.
The regulation A+ offering involves shares issued to backers who purchase a minimum of $999 worth of stock. To date, more than 4,000 investors have participated in the transaction, which Knightscope has billed a “mini-IPO”.
Founded in 2013, Knightscope manufactures mobile security robots that are able to autonomously monitor an environment and identify potential threats. It has provided 46 machines to 35 clients to date and is aiming to ship 100 units by the end of the year.
The company is also developing weapon detection technology that it hopes to integrate into its robot units in future, and is working on an alpha prototype of that technology. The $15m milestone follows the company announcing new beta prototypes for a stationary and a multi-terrain robot.
Knightscope had raised approximately $13m in equity and $500,000 in debt financing ahead of the offering. NTT Docomo Ventures, an investment arm of mobile network NTT Docomo, backed its $1.5m seed round in 2013 alongside SeedInvest and angel investor Kishore Ganji.
NTT Docomo Ventures, imaging technology producer Konica Minolta and manufacturing services provider Flextronics then invested in the company’s $5.2m round the following year. Konica Minolta injected another $1m in June 2017, with another $2m dependent on milestones.