Knightscope (NASDAQ:KSCP), a company that raised funds in an online securities offering, has signed a contract to sell its autonomous security robots to the City of New York.
New York is currently enduring an extended rise in the rate of criminal activity. At the same time, police are “leaving in droves” for smaller communities with better pay and fewer hassles. Knightscope is now helping to alleviate some of these challenges.
According to a note by the company, it has signed a pilot contract for Knightscope’s K5 robot to begin patrolling in a Manhattan subway station.
Knightscope notes that its technologies have already been deployed by other police departments, including one in Los Angeles County, California,
William Santana Li, chairman and CEO of Knightscope, commented on the sale:
“As a native New Yorker (born in Queens!), this is a particularly proud and emotional day for me. From the day of that terrible attack on our city some two decades ago, I dedicated my life to better securing our country. To be trusted with the incredible responsibility of helping my hometown is truly a dream come true.”
Knightscope raised capital on StartEngine using the Reg A+ securities exemption. The company then went on to list its shares on the Nasdaq – a unique option for Reg A+ issuers.
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