Knightscope Crowdfunds ~$22 Million At $447 Million Valuation

By Isabella Cheng, Published Apr 28, 2021, 09:51am EDT

Knightscope raised $21.9 million USD in its most recent Regulation A+ offering round, citing a $447 million valuation. However, Knightscope has struggled to grow, raising concerns about whether the company is a worthwhile investment.

IPVM Image

In this report, IPVM examines the financial and ethical implications of this most recent round, including:

  • $22 million equity fundraising at $447 million valuation
  • Extremely high valuation of about 149x relative to sales
  • 2018-2020 slow revenue growth
  • Valuation grows despite stagnant growth
  • Risks to average Knightscope unaccredited investor
  • Missed performance projections by 98%
  • Fundraising capital use
  • 2020 financials to be released soon

Valuation *** *******

***********'***** ****** *********** *********** ** ***** **, 2021, ******* $**.* ******* USD. *********** *** * pre-money ********* ** $*** million, ******* **** ********* ~$3 ******* ** ****** revenue ** ****. *********** has *** ******** *** full **** ********** ***, although *** ****** ** likely ***** ** $* million ** *********** ******** lower ******* ** *** 6 ****** ***** **** 30, ****, ******** ** the **** ****** ** 2019. *** * *****'* revenue *** ******** ** Knightscope's******** ********:

IPVM Image

*** **** ****** ***** of *********** *** ********* on***********, ** ****** ************ platform. ** **** ****, Knightscope **** ********* ~$** ********* *********** ** * $340 ******* *********. ***** the **** ****** *****, Knightscope *** ****** ****** $100 ******* ** *** last *** *****.

Slow ****** ****-****

****** *** *** ***** off ** *** **** few *****, ******* ************ tens ** ******** ** dollars ***** ************, **** ** ***** Engine. ****** ********* ******* **** ***** ~$* million ***, ******** ** stagnant ****** ******* **** and ****.

IPVM Image

**** ******** *** *********** growth ****-**-****, ** ** is ********** **** *********** has ****** ****** $*** million ** **** *****, yet *** ****** ******* to **** *** **.

~150x ********* ******** ** *****

******* ***********'* ****** ******, the ******* *** ** incredible ~**** ***-***** ********* relative ** *****. ***** in *** **** ****** offering ***** *********** ******* it *** "$**+ ******* in ******** *******", ********** has **** ******* ******** for **** *****. *** at * ******** ~$* million ** ****** *******, this ** * ****** small ****** *** * $447 ******* *********.

IPVM Image

Increased ********* ******* ******* *****

***********'* ********* **** **% from $*** ******* ** 2019 ** *** ******* $447 ******* ********* ******* slowing *****, ** **** excerpt **** ***********'* ************ shows:

IPVM Image

**** ** ******** ***** how *********** ******* ** its ******* *********, *** William ******* ** *********:

*** ***** ** ** process ** ******* **** at $** *** ***** or * $*** ******* pre-money *********. **** ******** favorably ** ****** **** all *** ***** ** the ********** ***** (** product, ** *********, ** revenue) ** $*** ******* - $* ******* *****. Or ** * ******* competitor ****** ** *******, Cobalt ********, ***** **** round *** **** ** $200M ***-***** ********* *** are **** ** ***** phase **** * ******* of *********.

*******, ****** ******** ******** Knightscope's ****************, ******* **** that ****** *** ******** deployments **** **** ****** each **** ****** ******* growth.

**** ***** ** ** investor *** ********* ********* despite ******** ***** ** sales *** ********* **** no ******** ****** ** revenue, ** ********** *** point ** **** **** recent ***** ** "** fund *** ******" *** that *********** "***'* ******** revenues ******* ********** *******":

*** ****** **** ***** is * ****** ******* round - ** ** fund *** ******. ***'* increase ******** ******* ********** capital - ***** **** led ** * ******* of ****** ***** ** have **** ******** **.

** ***** ********, ***********'* CEO ******** *** ********* saying **** *** ****** they **** ****** ***** it ** * **** price:

** *** ****** ********* then ****** ***** *** have *** ********* ** investors **** *** ****.

Unaccredited ********* ******* *** ***********

******* *** ******* ********** in *** **** ****** round *** ****** $*,***,**** *********** ********* *** likely ************/*** *** *** investors (*********** ****** ~$** million **** **,*** *********.) A ****** ** ******** on ***********'* *********** **** show **** ****** *** putting ** **** *** minimal ********** ($***) ** adding * *** ******* dollars ** ***** **********, a **** ***** *** not *********** ************* *********:

***** * *** *** minimal **********, * *** later ** ** ******* app ****** **** *********** took $*** **** ** should *** ** **, it **** "*********", **** like ** ***** *****. This ********** ***** **** it *** * ********* payment, *'* ********* *** it **** ********* ** it. * ******* *********** will ** ***, *** I ***'* ****** $*** every ****. ** *** can *** **** ** me ** ****, **** will ** *****. ***** you.

* **** *** [***] a ******* ********** *** was ******** ** *** Startengine **** ** ** so? ** **** *******?

* ******* *** ** in *** ****.**. *** do * ** ** additional ***.**?

** ***** ** ******* for ********** *** ******** investors ** ***** * few ******** ******* **** Knightscope's ********, ********** ***** small-dollar *********** *** ****** coming **** **** ************* investors.

StartEngine/Town **** ******** **** ********* *************

******** ******** **** **** investors******** **** **** *** unsophisticated, **** ** **** are ********** *** ** investing *** **** *** put ***** ******* **** a ****-**** *******. *** example:

** ***** ********** ****. Glad ** ** **** of **** *******.

***** **** * **** ever ******** ** * start ** *** ***** is ** ********* *** to ** **** **....

*** ******** **** ** only ******* ***** ************/*** A ********* ** **** (recently):

*'** **** ******* ***** CF / *** * investing ** ****** ** 2019.

****** **** ****** ** their ****** ******* ** this ********** ** *** buying ****** ** * gift *** ******:

** ****, * ** very ******* ** ***, during **** ******* *****, I **** * ********** investment ** ***********, ** behalf ** ******, ** mum, *** ** ***. We *** ******* ** your ******, **** ****-**** ambition ** **** **** "LAND" *** ****** ******* in *** *****, *********** IceLAND *** *** *******. Let's ** ****!!

** * ******** ******** gift * ***** **** to *** ****** *** my *******, *** ***** I ** **** ** her ****? ** *** both *** ****!

******* *** ******** ***** how **** ********** ************* worked:

**, ******* *** **** I **** * ****** with **** * ***.** dollar **********? **** **** of ****** ***** **** bring?

***** ****** ***** *** even ****** *** ***** Knightscope's ********** **** *******:

*****, ***** *** * find **** **********?

** ******* ****** ***** **** Town ****, ** ******** ******** how ** ***** *** company ******* ** ******** him ** **** ****:

*'* **** ** ** part ** **** *******. I'm **** **** *******. So ** ******, ** like **** ******.

Investors ********* ***** *** ****** **** **********

***********'* **** ****** **** hall **** *** *** mention ******* *******. *******, attendees ***** ******** ***** when/if *** ******* ***** IPO. *** *******, ** the **** **** *** on *** *********** ********, multiple ********* ***** ** commented:

*** **** ** ******** for **** *** **** to **** ** ** yet?

*** ** ** ********* are ********* ******* *** this ***.

**** ****** **** * rough ******** ** **** the ****** ***** *** a ****** ******, *** which ****** ***** **** open **?

****** ******** **** * wanted ** ***, ** the **** ***** ** go *** *** ** the *** ** **** crowdfunding *****?

** * **** *** intention ** ** ****** with ** ***

**** *** ****** **** go ******. **** ** investor ***** **** *** still ******* ** **** for **.

***********'* *** **** ************ the ****** ** *** questions ** ****, ********** on *** *********** *********** page:

*** *'* **** ******* will *** ** ***** about * ****** ******* in *** **** ** minutes. **, *, * ..... ๐Ÿ˜„

*******, *********** ********** ******* for *** **** **** in *** **** ****** StartEngine ******

Long-Term **** - whatever happens, keep your shares in Knightscope for the long-term in your trusty hands - our mission is *****-******** ****** *** **โ€™** need *** ******* ******* from *** *********!

Misses *********** *********** **** **** ** **%

***** *********** ********* ****** 3,950 ********-**-******* *** ****, they **** ******** ***** 50. ** ******** ****, Knightscope ********* ** ***** have **** ***** *,*** machines-in-network *** **** $*** million *** ** ******* by *** *** ** 2021. *******, ***********'* ******* realized *********** ** *** below ***** *********** **** just** ********-**-******* ** ** June **, ****, *** **** ****** publically ********* ****** ******** by ***********.IPVM Image

** *** ****** **** Hall, ** **** *********** currently *** ** ******** "under ********". *** ******* did *** ******* **** "under ********" *****, *** it ** ******* ********* from "********-**-*******", ** ******** that *** ********* ******** with *********. **** ** we ********** ******* ***** 70 ******** ** *** "in-network", **** ****** **** not **** ***** *** 2017 ********** *********** *** made *** ******.

*********** ** ****** ***** business *********** ***** ** the "****** ** ***** counsel" ** ******** ******** made ** ** ** Knightscope's *********** **** ****:

IPVM Image

IPVM Image

IPVM Image

Funds ****** ** ** ****** ******** ******** *** **&*

*** ******** ** *** funds ****** **** **** offering **** ** ** manufacturing ***********'* ****** *** to **&* *****, *** Knightscope's *** ******.

IPVM Image

Full **** **** ********** ******** ** "*** ** ***** ****"

*********** ****** *** *********** round ***** * **** before **** **** **** financials *** ** ** released. ** ********* ** an ********:

********** **** *** ********** requirements ** **** **** our **** *-* ****** report *** ***** **** with *** *.*. *** which **** ******* *** audited ********** *** ****. It **** ** ****** with *** *** ****** at ***.***********.***/*********.

**** ********** ****** ******* Knightscope **** *** **** of **** ******* ********* fundraising.

No ******** **** ***********

**** ******* *** ** Knightscope *** ******* ** these ******** ****** *** received ** ********

**********

*********** *** ****** * significant $** ******* ** a **** *********, ***** that *** *******'* ****** has **** *********** ******** in *** **** * years, ******* ******* **** of ******** ** ******* in *******. *******, *********** delivered ***** **** *** in-network ********, ******* ***** to *** *********** ** had *** *** ****** in ****, ***** *** a **** ** *,*** machines **-******* ** *** end ** ****. ***** all, *********** *** ********* a ****** ** ************* and ************ ********* ***** priority ** ** **** the ******* ** ***. For ***** ************* *********, Knightscope ***** **** *** to ** * ********* investment.

Comments (33)

Agree: 9
Disagree
Informative
Unhelpful
Funny: 7

*** *******

****** *** *******

Agree
Disagree
Informative
Unhelpful
Funny

*********** ** * ******** case ** *** *** concept ** ********** ********* was *******.

Agree: 5
Disagree
Informative
Unhelpful
Funny: 3

*** ** ****** ***** by *** ***?

Agree
Disagree
Informative
Unhelpful
Funny

*** ** *** ** over/under ***** *** **** they ***** ********* ********?

IPVM Image

Agree
Disagree
Informative
Unhelpful
Funny: 5

*********, ***********, *** ****/******** Knightscope **** *** *********** takes **************:

IPVM Image

* ** ***** ***** away **** ****** *** making *********** ****** *********** with ***** ****** *****.

Agree: 2
Disagree
Informative
Unhelpful
Funny

* ** ***** ***** away **** ****** *** making *********** ****** *********** with ***** ****** *****.

*'* *** ** *** least, ** *** *** "investing" ** *********** *** obviously ** *** ********** finances ** *********.

Agree: 7
Disagree
Informative: 1
Unhelpful
Funny

* ***'* *** ******** that ***** **** ** think **** **** ******* will ** **********. ** fact *** **** ***** that **** ** **** is ******** ****** ** give **** *****. ***** they ****** **** ***** to **** ******* ** actually ****** ** ***** a *******.

Agree: 3
Disagree
Informative
Unhelpful
Funny

*** **** ***** ***** own ** *** **** it **** ******* ****'* money?

Agree
Disagree
Informative
Unhelpful
Funny

***, *** ***** * noticed ***** ** **** researching ** **** ****** the *********** ******** *********** had ***+ ******** *** running.

**** *** *********** ****, Knightscope ** ******* ** ads ***.

Agree
Disagree
Informative: 3
Unhelpful
Funny

** ** * *** artist *** ***** ****** management **** ** **** focused ** ******* ********* without ********* *** **** of ****** **** ** meet ***** ***********.

Agree: 3
Disagree
Informative: 2
Unhelpful
Funny

IPVM Image

Agree: 2
Disagree
Informative
Unhelpful
Funny: 1

**** * *** ** their ***** ****. * decided **** **** ** it *** * **** investment * ************* *** **** ***** to ******* *** **** with ** ********.

**** **** ***** ** way ******* ** * could ****** *** *** to ***** ****.

Agree
Disagree
Informative
Unhelpful
Funny

how ** *****>

**** * *** ** their ***** ****. * decided **** **** ** it *** * **** investment * *** *******

*** *** **** ***** to ******* *** **** with ** *** *****.

IPVM Image

Agree
Disagree
Informative: 1
Unhelpful
Funny

***********'* **** ************* *** ********, **** lost $** ******* **** year ***** ********** ******* just $***,***:

IPVM Image

***** ****** ******** **** flat **** **** **** at **:

** ** ******** **, 2019, ** *** ** Clients *** ** ********-**-*******. As ** ******** **, 2020, *** ****** **** grew ** *% **** 2019 ** ** ******* with ** ********-**-*******.******* *** ****** ** COVID-19 ** *** ******** Client **** ****** ****, causing **** ********* ** be ****** ** **** until ***** ********** *** safely ******, *** ******* was **** ** ****** that ********* ****** **** the ******** ** *** Clients ** **** *** carrying ******* **** ****.

**** *** ** **** robots *** *** *******:

** ** *** **** of **** ******, *** Company *** * ******* of ****** ** ****** 27 ****, ************ ** aggregate ****** ************ ***** of ************* $*.* *******.

** / **** **** are ******** ******* ** be ****.

**** ***** **** ******* $21.9 *******, *********** **** they *** **** **** than $** ******* ** the **** **** **** than $* ******* ** be ********* **** *** recent ***********:

** ** ***** **, 2021, *** *******โ€™* **** balance *** ************* $**.* million.

...

**** ********* ********** ******** due ** ************* $*.* million, *** ** ******** costs, ***** **** ******* transactions ** ***********.

** ** ******, *********** estimates **** **** ** out ** **** *****:

*** ******* *** ********* operating ****** *** ******** cash ***** ** ************* $1.5 ******* *** ***** for *** **** ******* months. ******* ********** ***********, typically *** ************ ********* on * ******* ***** basis, *** ******* **** not ** ******* ***** the ***** ******* ** 2022

*********** **** **** ** radically ****** ******* ****** in *** **** ****.... or **** ** **** crowdfunding ** **** *** Facebook.....

Agree
Disagree
Informative: 1
Unhelpful
Funny

*** ***** **** ********** a ***** **** ************ raise ** $***,*** ***** revenue ********* **** $***,***, compare **** ** ****:

IPVM Image

IPVM Image

Agree
Disagree
Informative
Unhelpful
Funny

** *** *** **** (Mercedes) **** * ***** scam ***** ****. **** $800,000 ******* *** *** of ****, *** ** mention *** ***** ******** the ******* ****** ****** for ****.

***** ***** *********** ** the ****** ************ ******** in **** **** $**, Li *** ***** *** taking **% ** **** right *** *** ***** for **********, ***** **** more ** **** **** themselves ****** ** ******* raise.

Agree: 1
Disagree
Informative
Unhelpful
Funny

***** ***** *********** ** the ****** ************ ******** in **** **** $**

** *******, **** *** taking ** *** **** than $* ******* ** the ****** ************. *** way * **** *** document ** **** *** portion ***** *** *** settled / **** ********* yet ***** *** ************ just *****.

*******, *** ******* ***** is *** **** *********** is ******** ** *********** to ***** **** *****. It's ****** ******** ** dollars, ****** * ** not **** ** **** just ***** * *** million ** ** ** was $* ******* ** $10 ******* ** *** to ***** **** $**.* million. *** ***** ***********, since **** ****** ** at ****** * **** billion, ***** ******** * good **** *** **** but *** ****** ** money **** ******** *** but **** ***** ******** is ****** ************* **** than *** $**.* ******* (even ***** ********* ** StartEngine's *** ******* ** how **** *** ***** on ***).

Agree
Disagree
Informative
Unhelpful
Funny

** *** *** ********** raised ***** ** ***** new ***** **** * much ****** ********* ***** like * ***** ******. In ** *******, **** will *** *** ****...

Agree
Disagree
Informative
Unhelpful
Funny

*** ****** ********?

Agree: 1
Disagree
Informative
Unhelpful
Funny

** * ****** *** has **** ** *** development ******** ****** ***** to **** * ******* I ******** **** ****** buy * ***** *** the **** ** ******** the **** ** ********* people. ****** ****** **** the ************ *** ****** to *** *** **** run. * **** ******* their *************** ****** *** now * ***** *** what *** ***** ***** guys *** *** ** the ********* ******** ***** - ****** **** *** in *** ******** ** getting ****** ** **** them *****. * ****** what *** ********* ********** gets ****. *** * wonder ** **** *** showing *** **** ********** but ********* ***** *** money ** ***** *****.

Agree
Disagree
Informative
Unhelpful
Funny

*'** **** ********* *** for ***** ********* *** I've ***** **** * single ** *** ******** deploying *** ** ***** machines.

**** ** *** **** unethical ******* ** *** industry; ***** ******* ******** is ********* ****** ********* out ** ***** **** earned ****. *** ****** only ***** ** ********* for ***** ******* ********.

Agree: 3
Disagree
Informative: 2
Unhelpful: 1
Funny

***** ****: ***** **** some ** *** ****** gifs ** *** ******** are ******** *** **** rendering ** ****** ** MacBook.

Agree
Disagree
Informative
Unhelpful
Funny

********* *** ** ** a ***/****** ** ****, had ** ******* *** page ** *** **.

Agree
Disagree
Informative
Unhelpful
Funny

****. * ****** *** if * ***'* ***** it, ** ***'* ** broken.

Agree
Disagree
Informative
Unhelpful
Funny
Agree
Disagree
Informative
Unhelpful
Funny

* ***** *** **** as ***** ** * actually *** *** ****** more *********** ** ****** like ******** ******* ** parking ****, *** *โ€™** actually *** ** *** one. *** *** * see ** ***** ***** money *** ******/** ****** evidence ***** **** *** thing ******* **** * water ******** ***** ***.

**** ** ** **** investigation ****, *** ***** get **** ***** ******** because **** ** * big ****.

Agree
Disagree
Informative
Unhelpful
Funny

*********** ****** ***** ******* saying**** **** *** *** largest ****** ** *** history ** ***** ***********, including **** ***:

โ€œ*********** ** *** ********** responsible *** *** *** largest ****** ** *** history ** ***********,โ€ **** StartEngine *** & **-************* *****. โ€œ**** *** *********, StartEngineโ€™s ******* *** **** to **** ************* ******* their ******, *** * hope *** ********** ******* of ***********โ€™* ****** ***** encourages **** ******** ** try ****** ************ *** fund ****** ****** **** their *** ***********.โ€

*********** ** ****** **** at ******* ***** **** non-accredited *********. ******* **** is **** *** ***** investors ** ******* ********.

Agree: 1
Disagree
Informative
Unhelpful
Funny

**'* ******** *** ***** investors.

***** ********* *** ***% guaranteed ** ** ** zero. **** ******* *** had ** ****** *** the **** * *****, and *** ********** *** themselves **** ********** **** Series */* ******** *** are ******** ******* ******** and ****** (*** ***** 2020 ****).

IPVM Image

*** ***, **** ** the ****** ****, ***** revenues ** ********* ***** is ***** **** **** of *** ***** **'** seen ********.

Agree: 1
Disagree
Informative: 2
Unhelpful
Funny: 1

*****,

**** ** **** **** on ***** ** *******?

****, ***** ***** **** become ** **** **** popular ********, *** ******'* Knightscope ** **** ** a ******* ******* *** such * ******** ******?

** ** *** ****-******?

Agree
Disagree
Informative
Unhelpful
Funny

*** *** **** *******:******** ****** ****** ****** U.S., **** *** ******** results

*** ******* ******* ** Knightscope *** *** ******* problems, **** *** ***** to **** *******, *** interesting ******** ** ***** Huntington ****, *** *********** robot ********* ******* ** people *********** *********** *****:

*** ****** ***'* ******* the *****โ€™* **** ***** on * ******** ***** because **** ***** โ€œ**** throughโ€ *** *** ********* of **** **** *** agency *** ******** ** it *** *****, ******* to * **** *** on * ******* ********* plan. ****** ***** **** the ********** **** ****** Department **** **** *** use *** ******* ***** reader, ******* ******** ** mobile ***** ******** ********, as **** **** *** been ********** ********* ** the ****** ********** ***.

**** ***** ** **** examples ** ******* **** were **** ******* ** the ***** **** *** two ***** ***** ** was ********, ****** **** there *****โ€™* **** ****.

โ€œ* **** ** *** that **โ€™* **** ****** in ***** ******* *** vandalism ******* *** ***** itself,โ€ ** ****, ****** that **** *** **** occurred ***** ** *** years.

Agree
Disagree
Informative
Unhelpful
Funny

** ** ******** *** have ********* *****! **** a ****.

Agree: 1
Disagree
Informative
Unhelpful
Funny: 1

******: *********** ********* ********* of ***** ****** ** the ******:

** *** ******* ********** that *********** **** ** filing **** *** *.*. Securities & ******** **********, to ******* ** ******** to***** ** ** $** million ** ********** **** an ******** ****** ******* on ******.

***** '*****' ******** **** ****** ** list ** *** *** of *** **** ****** it ** ***** ** the '******* *** ******' phase:

IPVM Image

** **** ***** ** this **********. ***** ****** has *****. ******** ** public *********, ********** ** Knightscope **** *** ***** showing ****** ***** ******, could ** * *******.

Agree
Disagree
Informative
Unhelpful
Funny
Read this IPVM report for free.

This article is part of IPVM's 7,264 reports and 968 tests and is only available to subscribers. To get a one-time preview of our work, enter your work email to access the full article.

Already a subscriber? Login here | Join now
Loading Related Reports