Artificial Intelligence (AI) is advancing at an accelerating pace and robots are already starting to transform both industry and society. As more companies enter the robotics race, more advanced AI and Machine Learning (ML) powered models are being developed. ChatGPT maker OpenAI, which is now the fastest growing platform in history, just invested in Norwegian robotics company 1X Technologies in a $23.5 million Series A2 financing to help the company pursue producing bipedal androids at commercial scale. Robotics startup Figure AI plans to create “the world’s first commercially viable general purpose humanoid robot,” to address labor shortages and take over unsafe and undesirable jobs. Although these two products developed, other robots are already being widely used in manufacturing, space exploration, healthcare, transportation, security and defense. Knightscope (NASDAQ:KSCP) is deploying its Autonomous Security Robots (ASRs) across the United States to keep people safe in airports, public utilities, hospitals,, parking lots, neighborhoods, and other public locations. Meanwhile, ABB Ltd (NASDAQ:ABB), Intuitive Surgical (NASDAQ:ISRG), UiPath (NYSE:PATH), Helix Energy Solutions Group, Inc. (NYSE:HLX) are developing robotic solutions for different sectors.
Knightscope (NASDAQ:KSCP), a leading manufacturer of ASRs and blue light emergency communication systems, has continued to install cutting-edge security technology across the country in healthcare facilities, educational institutions, office buildings, local governments, and corporate campuses..
Since the beginning of the year, Knightscope has completed roughly 40 new sales and renewed seven ASR subscription contracts. Furthermore, the company has received new purchase orders from its resellers.
On April 19, Knightscope announced that it has reduced its $5 million backlog of new orders by over 12%. The company has shipped multiple ASRs to California, Florida, New York, Washington and Washington DC over the last 30 days, representing roughly $258,000 of annualized revenue. Also contributing to the backlog reduction were shipments of blue light emergency communication systems, representing approximately $417,000 in revenue.
The company also announced that Westland Real Estate Group, which operates over 65 residential communities on the west coast, renewed its contract for a Knightscope K5 ASR to patrol one of its Las Vegas residential communities with high crime rates.
The week prior, Knightscope announced that the New York Police Department (NYPD) has signed a pilot contract for K5 robots to guard a Manhattan subway station this summer.
Knightscope‘s technology has already been used successfully by other police departments, including one in Los Angeles County, California, which applauded the company for lowering crime at a popular public park.
“Technology is here, and we cannot be afraid of it,” said New York City Mayor Eric Adams. “We are scanning the globe on finding technology that will ensure this city is safe for New Yorkers, visitors, and whomever is here. If we were not willing to move forward and use technology on how to properly keep cities safe, then you will not keep up with those who are doing harmful things to hurt New Yorkers.”
Other police departments have previously successfully implemented Knightscope‘s technologies, with one Los Angeles County, California, agency complimenting the Company for lowering crime in a popular public park. Knightscope provides public safety officials with an effective means to supplement their agencies, which are often already stretched thin due to substantial recruiting issues. The robots are entertaining, engaging, photogenic, and considerate of everyone’s privacy, making them excellent candidates to assist law enforcement across the United States.
Knightscope has continued to showcase its ASRs and blue light emergency communication systems at the Robot Roadshow, an engaging and attention-grabbing event used to create direct connections with potential clients and strike up conversations about the company’s exciting technologies. To date, the Robot Roadshow has made 79 landings in 24 states and will be hosted next at Jena Choctaw Pines Casino in the state of Louisiana from May 9-11.
For more information about Knightscope, Inc. (NASDAQ:KSCP), click here.
Companies Are Investing in Robotics to Improve Workflow
On March 16, ABB Ltd (NASDAQ:ABB) began expanding its North American robotics headquarters and production factory in Auburn Hills, Michigan, on March 16. The $20 million project will finish in November 2023. A $450,000 performance-based award from the Michigan Business Development Program will support the expansion, which will add 72 skilled jobs. The extra investment in its Robotics headquarters and plant will help clients in the Americas, particularly those in emerging industries like electric vehicles, healthcare, packaging, and logistics, adding to the $14 billion ABB has invested in the US since 2010. According to an ABB Robotics survey of 1,610 executives in the US and Europe in June 2022, 70% of US businesses want automation to bring production closer to home. The expansion is expected to significantly increase the factory’s production capacity.
Intuitive Surgical (NASDAQ:ISRG) announced in October 2022 that it has been approved by the Royal College of Surgeons of England (RCS England) as the leading supplier of robotic-assisted surgical technology training. The accreditation, which Intuitive has received across its entire worldwide education portfolio, is an award of excellence from RCS England in honor of outstanding surgery-related education and is a globally recognised quality mark. Intuitive Surgical is the pioneer of robotic-assisted surgery, providing robotic technology training to surgeons and their teams through its da Vinci Surgical Systems. Over 60,000 surgeons worldwide have received technology training from Intuitive.
UiPath (NYSE:PATH), a leading enterprise automation software company, announced on April 13 that the UiPath Business Automation Platform is now available as a pre-built solution for Snowflake’s Manufacturing Data Cloud. . By combining Snowflake’s data platform, Snowflake- and partner-delivered solutions, and industry-specific datasets, the Manufacturing Data Cloud enables enterprises in the automotive, technology, energy, and industrial sectors to unleash the value of their crucial siloed industrial data. The technical cooperation between UiPath and Snowflake allows joint clients to design and construct workflows on Snowflake’s platform based on 360-degree views of trusted and accessible data – addressing customers’ needs for both data and business processes that should be fast, frictionless, and automated.
Helix Robotics Solutions, the robotics company of Helix Energy Solutions Group, Inc. (NYSE: HLX), has contracted with a prominent renewables cable installation contractor to trench inter-array and export cables for a 640MW wind farm offshore Taiwan. Helix will mobilize its recently acquired T1400-1 jet trenching system in Singapore onboard the Siem Topaz wind farm support vessel before transiting to Taiwan for trenching and survey services until late 2023 under the contract. Helix operates robotics assets worldwide to support offshore renewable energy projects and offshore oil and gas construction, maintenance, and well intervention. The T1400-1 strategically deploys offshore wind and power distribution business services in the region. Its three-legged business model maximizes production of remaining oil and gas reserves, supports renewable energy development, and decommissions end-of-life fields, facilitating global energy transition.
Knightscope recently received three new orders for its K1 emergency communication systems, and another K5 ASR was deployed in an Ohio healthcare facility.
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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Knightscope, Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Knightscope, Inc.’s industry; (b) market opportunity; (c) Knightscope, Inc.’s business plans and strategies; (d) services that Knightscope, Inc. intends to offer; (e) Knightscope, Inc.’s milestone projections and targets; (f) Knightscope, Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Knightscope, Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Knightscope, Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Knightscope, Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Knightscope, Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Knightscope, Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Knightscope, Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Knightscope, Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Knightscope, Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Knightscope, Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Knightscope, Inc.’s business operations (e) Knightscope, Inc. may be unable to implement its growth strategy; and (f) increased competition.
Except as required by law, Knightscope, Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Knightscope, Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Knightscope, Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Knightscope, Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Knightscope, Inc. or such entities and are not necessarily indicative of future performance of Knightscope, Inc. or such entities.
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