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Bezos, OpenAI and Microsoft Back Humanoid Robot Startup in $675 Million Funding

Robotics companies are gaining serious backing from tech titans. Figure AI, a startup developing humanoid robots, has gained the backing of companies like Intel, NVIDIA, Microsoft, LG, OpenAI and Samsung. According to Bloomberg, Figure AI has raised $675 million, $95 million of which came from Microsoft, $50 million from NVIDIA and $100 million from Jeff Bezos. But it’s definitely not the only company in the AI and robotics space garnering attention in the market. Companies like Knightscope, Inc. (NASDAQ:KSCP), Guardforce AI (NASDAQ:GFAI), Sarcos Technology & Robotics (NASDAQ:STRC), Kratos Defense & Security Solutions (NASDAQ:KTOS) and Tesla (NASDAQ:TSLA) are developing and deploying AI & robotics solutions to boost the workforce, protect the public and redefine human possibilities.

Knightscope (NASDAQ:KSCP), a pioneer in robotics and artificial intelligence (AI) technologies for public safety, is actively deploying its Autonomous Security Robots (ASRs) and blue light emergency communication systems at public venues across the country, including major casinos such as Penn Entertainment’s (NASDAQ:PENN) M Resort Spa Casino in Nevada, Ameristar Casino Hotel Council Bluffs in Iowa and Hollywood Casino Aurora in Illinois.

On February 26, Knightscope deployed its Fifth Generation K5 Autonomous Security Robot at Margaritaville Resort Casino in Louisiana. This deployment is part of a larger master agreement signed in September with the operator of integrated entertainment, sports content, and casinos, allowing for the expansion of Knightscope’s technologies to 43 properties across the US.

Knightscope’s K5 ASR is equipped with proprietary AI software that enhances safety measures at the property while offering visitors a unique and interactive experience. Featuring Margaritaville-branded graphics, customizable audio broadcast messaging, and improved access to emergency services, the robot also provides ample opportunities for guests to take robot selfies.

As a fully autonomous outdoor robot, the K5 operates without the need for human intervention (i.e., not remote control), ensuring continuous surveillance of the property. Its large size, conspicuous lighting, strobe lights, broadcast messages, and patrol sounds effectively deter illicit activities. Additionally, the robot’s sensors gather evidentiary-quality video and publicly available data to assist in investigations.

Knightscope just announced Innovation Week, a series of live webinars that offer analysts, investors, supporters, and prospective clients a behind-the-scenes look at the company’s history of innovation, its 2024 roadmap to profitability, and a discussion defining the future of public safety.

For more information about Knightscope, Inc. (NASDAQ:KSCP), click here.

AI Robotics Development in Full Swing

On February 24, Tesla (NASDAQ:TSLA) released a new video showcasing its progress in the development of its humanoid robot Optimus. The video showed the robot, which appears to be a newer model, walking around one of its testing facilities. Tesla CEO Elon Musk remains optimistic that the robot will begin shipping to customers next year, although the details of its functionality and end use are still unclear.

Guardforce AI (NASDAQ:GFAI), an integrated security provider specializing in secured logistics, AI and Robot-as-a-Service (RaaS), recently bolstered its management team with the addition of Yuting Zuo as Chief Financial Officer. The company is currently navigating a crucial financial period, marked by appointment of Zuo, as well as a major overhaul of its balance sheet. These steps are designed to tackle Guardforce AI‘s financial hurdles, such as a diminished Net Current Asset Value and significant EBITDA losses, amidst fluctuating revenue growth and extensive dilution of shareholder equity.

Sarcos Technology & Robotics (NASDAQ:STRC), a technology leader in advanced robotic systems and solutions, just announced its Q3 2023 financial results which highlighted a $13.8 million contract from the US Air Force to support development, integration, and validation of Sarcos Technology’s AI and machine learning (ML) software framework. In January, the company welcomed back president and CEO Ben Wolff as the company follows its next phase of innovation with a focus on commercializing and deploying the robotic AI and machine learning (ML) software platform.

Earlier this month, Kratos Defense & Security Solutions (NASDAQ:KTOS), a technology, products, system and software company addressing the defense, national security, and commercial markets, reported full year 2023 revenues of $1.037 billion, marking a 15.5% overall growth and a 12.6% organic growth compared to the 2022 revenues of $898.3 million. In Q4 alone, the company saw revenues of $273.8 million, which is a 9.8% increase year-over-year. The fourth quarter of 2023 also generated $67.4 million in cash flow from operations, with the full year generating $65.2 million. 

On February 7, Knightscope (NASDAQ:KSCP) announced that Fire Department New York (FDNY) made a purchase order to upgrade 10 fire boxes at various New York schools from outdated analog wirelines to Knightscope’s solar, 4G wireless technologies.

For more information about Knightscope, Inc. (NASDAQ:KSCP), click here.

Featured Image @ Freepik


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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.

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