Knightscope has raised its maximum target crowdfunding goal of $20 million on SeedInvest. The fully subscribed offering now holds the title of the single largest offer to raise capital on the platform. Knightscope aggressively pursued investors with a slick cable campaign with commercials running on CNBC.
Knightscope sold shares for $3 each and a minimum $1000 investment. Reportedly more than 5000 investors backed the offer. The pre-money valuation was pegged at $80 million. The company is issuing shares under Reg A+, a crowdfunding exemption that allows a company to raise up to $50 million from both accredited and non accredited investors. Last month, Knightscope filed a Form D (506c) indicating it would be accepting accredited investors as a side offering.
Knightscope was founded in April 2013, and is a robotic security device is said to be deployed with 36 different clients in 10 different states. For companies interested in purchasing a Knighscope, it may provide a method to provide additional security without a monthly salary and benefits. The company says the cost benefit equals to $7 per hour Machine-as-a-Service (MaaS) vs. $25 per hour for a human guard.
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