Knightscope, an autonomous security robot developer, has raised over $15 million to date in its Reg A+ crowdfunding offer on SeedInvest. This is according to a release from the company as it seeks to raise up to $20 million over the next couple weeks. So far, 4000 investors have participated in the preferred share offer with the close scheduled for October 10th. Each share of Series m Preferred Stock will automatically convert into Class A Common Stock immediately prior to the closing of a firm commitment underwritten public offering if this occurs at some point in the future. There is plenty more info in the Offering Circular if you are interested in learning more. Currently, Knightscope does not intend on listing its shares on a public marketplace or exchange.
Total funding for the young company now stands at $29 million. The announcement of its impending close on SeedInvest comes on the heels of the completion of the beta prototypes of both the K1 stationary and K7 multi-terrain machines.
Knightscope’s Regulation A+ “mini-IPO” is the most successful campaign in SeedInvest’s history. Indications of interest topped $65 million before the live offer was launched. SeedInvest is Knightscope’s exclusive broker-dealer for this preferred stock offering.
In brief, Knightscope is an intelligent and mobile “eyes and ears” that assists both private security operations and law enforcement professionals in the performance of their duties. The “machine as a service” starts at $7 an hour. Contrast that to what you have to pay for private security personnel or an off duty cop.
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Update: Knightscope just filed a Reg D 506c statement with the SEC indicating it is also accepting accredited investors in a side deal alongside the Reg A+ offer.
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