Knightscope Crowdfunds ~$22 Million At $447 Million Valuation

By Isabella Cheng, Published Apr 28, 2021, 09:51am EDT (Info+)

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.

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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 *** *******

***********'***** ****** *********** *********** ** ***** **, ****, ******* $21.9 ******* ***. *********** *** * pre-money ********* ** $*** *******, ******* only ********* ~$* ******* ** ****** revenue ** ****. *********** *** *** released *** **** **** ********** ***, although *** ****** ** ****** ***** to $* ******* ** *********** ******** lower ******* ** *** * ****** ended **** **, ****, ******** ** the **** ****** ** ****. *** 6 *****'* ******* *** ******** ** Knightscope's******** ********:

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*** **** ****** ***** ** *********** was ********* *************, ** ****** ************ ********. ** July ****, *********** **** ********* ~$** ********* *********** ** * $*** ******* valuation. ***** *** **** ****** *****, Knightscope *** ****** ****** $*** ******* in *** **** *** *****.

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

****** *** *** ***** *** ** the **** *** *****, ******* ************ tens ** ******** ** ******* ***** on**********, **** ** ***** ******. ****** revenue** ******* **** ***** ~$* ******* ***, pointing ** ******** ****** ******* **** and ****.

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**** ******** *** *********** ****** ****-**-****, so ** ** ********** **** *********** has ****** ****** $*** ******* ** this *****, *** *** ****** ******* to **** *** **.

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

******* ***********'* ****** ******, *** ******* has ** ********** ~**** ***-***** ********* relative ** *****. ***** ** *** most ****** ******** ***** *********** ******* it *** "$**+ ******* ** ******** revenue", ********** *** **** ******* ******** for **** *****. *** ** * stagnant ~$* ******* ** ****** *******, this ** * ****** ***** ****** for * $*** ******* *********.

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

***********'* ********* **** **% **** $*** million ** **** ** *** ******* $447 ******* ********* ******* ******* *****, as **** ******* **** ***********'* ************ shows:

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**** ** ******** ***** *** *********** arrived ** *** ******* *********, *** William ******* ** *********:

*** ***** ** ** ******* ** getting **** ** $** *** ***** or * $*** ******* ***-***** *********. This ******** ********* ** ****** **** all *** ***** ** *** ********** space (** *******, ** *********, ** revenue) ** $*** ******* - $* billion *****. ** ** * ******* competitor ****** ** *******, ****** ********, whose **** ***** *** **** ** $200M ***-***** ********* *** *** **** in ***** ***** **** * ******* of *********.

*******, ****** ******** ******** ***********'* ****************, telling **** **** ****** *** ******** deployments **** **** ****** **** **** strong ******* ******.

**** ***** ** ** ******** *** valuation ********* ******* ******** ***** ** sales *** ********* **** ** ******** effect ** *******, ** ********** *** point ** **** **** ****** ***** is "** **** *** ******" *** that *********** "***'* ******** ******** ******* additional *******":

*** ****** **** ***** ** * growth ******* ***** - ** ** fund *** ******. ***'* ******** ******** without ********** ******* - ***** **** led ** * ******* ** ****** which ** **** **** ******** **.

** ***** ********, ***********'* *** ******** the ********* ****** **** *** ****** they **** ****** ***** ** ** a **** *****:

** *** ****** ********* **** ****** would *** **** *** ********* ** investors **** *** ****.

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

******* *** ******* ********** ** *** most ****** ***** *** ****** $*,***,**** *********** ********* *** ****** ************/*** and *** ********* (*********** ****** ~$** million **** **,*** *********.) * ****** of ******** ** ***********'* *********** **** show **** ****** *** ******* ** just *** ******* ********** ($***) ** adding * *** ******* ******* ** their **********, * **** ***** *** not *********** ************* *********:

***** * *** *** ******* **********, a *** ***** ** ** ******* app ****** **** *********** **** $*** like ** ****** *** ** **, it **** "*********", **** **** ** other *****. **** ********** ***** **** it *** * ********* *******, *'* wondering *** ** **** ********* ** it. * ******* *********** **** ** far, *** * ***'* ****** $*** every ****. ** *** *** *** back ** ** ** ****, **** will ** *****. ***** ***.

* **** *** [***] * ******* investment *** *** ******** ** *** Startengine **** ** ** **? ** this *******?

* ******* *** ** ** *** 1000.00. *** ** * ** ** additional ***.**?

** ***** ** ******* *** ********** and ******** ********* ** ***** * few ******** ******* **** ***********'* ********, indicating ***** *****-****** *********** *** ****** coming **** **** ************* *********.

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

******** ******** **** **** ***************** **** **** *** ***************, **** of **** *** ********** *** ** investing *** **** *** *** ***** savings **** * ****-**** *******. *** example:

** ***** ********** ****. **** ** be **** ** **** *******.

***** **** * **** **** ******** in * ***** ** *** ***** is ** ********* *** ** ** part **....

*** ******** **** ** **** ******* about ************/*** * ********* ** **** (recently):

*'** **** ******* ***** ** / Reg * ********* ** ****** ** 2019.

****** **** ****** ** ***** ****** members ** **** ********** ** *** buying ****** ** * **** *** family:

** ****, * ** **** ******* to ***, ****** **** ******* *****, I **** * ********** ********** ** Knightscope, ** ****** ** ******, ** mum, *** ** ***. ** *** believe ** **** ******, **** ****-**** ambition ** **** **** "****" *** safest ******* ** *** *****, *********** IceLAND *** *** *******. ***'* ** KSCP!!

** * ******** ******** **** * would **** ** *** ****** *** my *******, *** ***** * ** this ** *** ****? ** *** both *** ****!

******* *** ******** ***** *** **** investment ************* ******:

**, ******* *** **** * **** a ****** **** **** * ***.** dollar **********? **** **** ** ****** could **** *****?

***** ****** ***** *** **** ****** out ***** ***********'* ********** **** *******:

*****, ***** *** * **** **** financials?

** ******* ****** ***** **** **** ****, ** ******** ******** *** ** liked *** ******* ******* ** ******** him ** **** ****:

*'* **** ** ** **** ** your *******. *'* **** **** *******. So ** ******, ** **** **** droids.

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

***********'* **** ****** **** **** **** did *** ******* ******* *******. *******, attendees ***** ******** ***** ****/** *** company ***** ***. *** *******, ** the **** **** *** ** *** StartEngine ********, ******** ********* ***** ** commented:

*** **** ** ******** *** **** you **** ** **** ** ** yet?

*** ** ** ********* *** ********* waiting *** **** ***.

**** ****** **** * ***** ******** of **** *** ****** ***** *** a ****** ******, *** ***** ****** would **** **** **?

****** ******** **** * ****** ** ask, ** *** **** ***** ** go *** *** ** *** *** of **** ************ *****?

** * **** *** ********* ** go ****** **** ** ***

**** *** ****** **** ** ******. Been ** ******** ***** **** *** still ******* ** **** *** **.

***********'* *** **** ************ *** ****** of *** ********* ** ****, ********** on *** *********** *********** ****:

*** *'* **** ******* **** *** me ***** ***** * ****** ******* in *** **** ** *******. **, 9, * ..... πŸ˜„

*******, *********** ********** ******* *** *** long **** ** *** **** ****** StartEngine ******

Long-Term **** - whatever happens, keep your shares in Knightscope for the long-term in your trusty hands - our mission is *****-******** ****** *** **’** **** *** ongoing ******* **** *** *********!

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

***** *********** ********* ****** *,*** ********-**-******* for ****, **** **** ******** ***** 50. ** ******** ****, *********** ********* it ***** **** **** ***** *,*** machines-in-network *** **** $*** ******* *** in ******* ** *** *** ** 2021. *******, ***********'* ******* ******** *********** is *** ***** ***** *********** **** just** ********-**-******* ** ** **** **, 2020, *** **** ****** ********** ********* number ******** ** ***********.IPVM Image

** *** ****** **** ****, ** said *********** ********* *** ** ******** "under ********". *** ******* *** *** clarify **** "***** ********" *****, *** it ** ******* ********* **** "********-**-*******", or ******** **** *** ********* ******** with *********. **** ** ** ********** counted ***** ** ******** ** *** "in-network", **** ****** **** *** **** break *** **** ********** *********** *** made *** ******.

*********** ** ****** ***** ******** *********** based ** *** "****** ** ***** counsel" ** ******** ******** **** ** Li ** ***********'* *********** **** ****:

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

*** ******** ** *** ***** ****** from **** ******** **** ** ** manufacturing ***********'* ****** *** ** **&* costs, *** ***********'* *** ******.

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

*********** ****** *** *********** ***** ***** a **** ****** **** **** **** financials *** ** ** ********. ** responded ** ** ********:

********** **** *** ********** ************ ** will **** *** **** *-* ****** report *** ***** **** **** *** U.S. *** ***** **** ******* *** audited ********** *** ****. ** **** be ****** **** *** *** ****** at ***.***********.***/*********.

**** ********** ****** ******* *********** **** the **** ** **** ******* ********* fundraising.

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

**** ******* *** ** *********** *** comment ** ***** ******** ****** *** received ** ********

**********

*********** *** ****** * *********** $** million ** * **** *********, ***** that *** *******'* ****** *** **** essentially ******** ** *** **** * years, ******* ******* **** ** ******** of ******* ** *******. *******, *********** delivered ***** **** *** **-******* ********, nowhere ***** ** *** *********** ** had *** *** ****** ** ****, which *** * **** ** *,*** machines **-******* ** *** *** ** 2021. ***** ***, *********** *** ********* a ****** ** ************* *** ************ investors ***** ******** ** ** **** the ******* ** ***. *** ***** inexperienced *********, *********** ***** **** *** to ** * ********* **********.

Comments (34)

Agree: 9
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*** *******

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

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*********** ** * ******** **** ** why *** ******* ** ********** ********* was *******.

Agree: 5
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*** ** ****** ***** ** *** way?

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*** ** *** ** ****/***** ***** for **** **** ***** ********* ********?

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Agree
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*********, ***********, *** ****/******** *********** **** for *********** ***** **************:

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* ** ***** ***** **** **** people *** ****** *********** ****** *********** with ***** ****** *****.

Agree: 2
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* ** ***** ***** **** **** people *** ****** *********** ****** *********** with ***** ****** *****.

*'* *** ** *** *****, ** you *** "*********" ** *********** *** obviously ** *** ********** ******** ** investing.

Agree: 8
Disagree
Informative: 1
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Funny

* ***'* *** ******** **** ***** make ** ***** **** **** ******* will ** **********. ** **** *** only ***** **** **** ** **** is ******** ****** ** **** **** money. ***** **** ****** **** ***** to **** ******* ** ******** ****** to ***** * *******.

Agree: 3
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*** **** ***** ***** *** ** and **** ** **** ******* ****'* money?

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***, *** ***** * ******* ***** we **** *********** ** **** ****** the *********** ******** *********** *** ***+ Facebook *** *******.

**** *** *********** ****, *********** ** running ** *** ***.

Agree
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Informative: 3
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Funny

** ** * *** ****** *** their ****** ********** **** ** **** focused ** ******* ********* ******* ********* any **** ** ****** **** ** meet ***** ***********.

Agree: 3
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Informative: 2
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Agree: 2
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Informative
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Funny: 1

**** * *** ** ***** ***** list. * ******* **** **** ** it *** * **** ********** * saw********** *** **** ***** ** ******* the **** **** ** ********.

**** **** ***** ** *** ******* if * ***** ****** *** *** to ***** ****.

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embed>

**** * *** ** ***** ***** list. * ******* **** **** ** it *** * **** ********** * saw *******

*** *** **** ***** ** ******* the **** **** ** *** *****.

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Agree
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Informative: 1
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Funny

***********'* **** ************* *** ********, **** **** $** million **** **** ***** ********** ******* just $***,***:

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***** ****** ******** **** **** **** over **** ** **:

** ** ******** **, ****, ** had ** ******* *** ** ********-**-*******. As ** ******** **, ****, *** Client **** **** ** *% **** 2019 ** ** ******* **** ** machines-in-network.******* *** ****** ** *****-** ** our ******** ****** **** ****** ****, causing **** ********* ** ** ****** on **** ***** ***** ********** *** safely ******, *** ******* *** **** to ****** **** ********* ****** **** the ******** ** *** ******* ** 2020 *** ******** ******* **** ****.

**** *** ** **** ****** *** now *******:

** ** *** **** ** **** report, *** ******* *** * ******* of ****** ** ****** ** ****, representing ** ********* ****** ************ ***** of ************* $*.* *******.

** / **** **** *** ******** remains ** ** ****.

**** ***** **** ******* $**.* *******, Knightscope **** **** *** **** **** than $** ******* ** *** **** with **** **** $* ******* ** be ********* **** *** ****** ***********:

** ** ***** **, ****, *** Company’s **** ******* *** ************* $**.* million.

...

**** ********* ********** ******** *** ** approximately $*.* *******, *** ** ******** costs, ***** **** ******* ************ ** termination.

** ** ******, *********** ********* **** will ** *** ** **** *****:

*** ******* *** ********* ********* ****** and ******** **** ***** ** ************* $1.5 ******* *** ***** *** *** next ******* ******. ******* ********** ***********, typically *** ************ ********* ** * rolling ***** *****, *** ******* **** not ** ******* ***** *** ***** quarter ** ****

*********** **** **** ** ********* ****** revenue ****** ** *** **** ****.... or **** ** **** ************ ** CNBC *** ********.....

Agree
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Informative: 1
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Funny

*** ***** **** ********** * ***** cash ************ ***** ** $***,*** ***** revenue ********* **** $***,***, ******* **** vs ****:

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Funny

** *** *** **** (********) **** a ***** **** ***** ****. **** $800,000 ******* *** *** ** ****, not ** ******* *** ***** ******** the ******* ****** ****** *** ****.

***** ***** *********** ** *** ****** crowdfunding ******** ** **** **** $**, Li *** ***** *** ****** **% of **** ***** *** *** ***** for **********, ***** **** **** ** they **** ********** ****** ** ******* raise.

Agree: 1
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***** ***** *********** ** *** ****** crowdfunding ******** ** **** **** $**

** *******, **** *** ****** ** way **** **** $* ******* ** the ****** ************. *** *** * read *** ******** ** **** *** portion ***** *** *** ******* / been ********* *** ***** *** ************ just *****.

*******, *** ******* ***** ** *** much *********** ** ******** ** *********** to ***** **** *****. **'* ****** millions ** *******, ****** * ** not **** ** **** **** ***** a *** ******* ** ** ** was $* ******* ** $** ******* in *** ** ***** **** $**.* million. *** ***** ***********, ***** **** raised ** ** ****** * **** billion, ***** ******** * **** **** for **** *** *** ****** ** money **** ******** *** *** **** their ******** ** ****** ************* **** than *** $**.* ******* (**** ***** factoring ** ***********'* *** ******* ** how **** *** ***** ** ***).

Agree
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** *** *** ********** ****** ***** to ***** *** ***** **** * much ****** ********* ***** **** * Ponzi ******. ** ** *******, **** will *** *** ****...

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Funny

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

Agree: 1
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Funny

** * ****** *** *** **** in *** *********** ******** ****** ***** to **** * ******* * ******** that ****** *** * ***** *** the **** ** ******** *** **** it ********* ******. ****** ****** **** the ************ *** ****** ** *** the **** ***. * **** ******* their *************** ****** *** *** * think *** **** *** ***** ***** guys *** *** ** *** ********* security ***** - ****** **** *** in *** ******** ** ******* ****** to **** **** *****. * ****** what *** ********* ********** **** ****. And * ****** ** **** *** showing *** **** ********** *** ********* their *** ***** ** ***** *****.

Agree
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*'** **** ********* *** *** ***** fundraise *** *'** ***** **** * single ** *** ******** ********* *** of ***** ********.

**** ** *** **** ********* ******* in *** ********; ***** ******* ******** is ********* ****** ********* *** ** their **** ****** ****. *** ****** only ***** ** ********* *** ***** primary ********.

Agree: 3
Disagree
Informative: 2
Unhelpful: 1
Funny

***** ****: ***** **** **** ** the ****** **** ** *** ******** are ******** *** **** ********* ** Chrome ** *******.

Agree
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Funny

********* *** ** ** * ***/****** as ****, *** ** ******* *** page ** *** **.

Agree
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Funny

****. * ****** *** ** * can't ***** **, ** ***'* ** broken.

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Agree
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* ***** *** **** ** ***** if * ******** *** *** ****** more *********** ** ****** **** ******** centers ** ******* ****, *** *’** actually *** ** *** ***. *** all * *** ** ***** ***** money *** ******/** ****** ******** ***** than *** ***** ******* **** * water ******** ***** ***.

**** ** ** **** ************* ****, and ***** *** **** ***** ******** because **** ** * *** ****.

Agree
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Funny

*********** ****** ***** ******* ********** **** *** *** ******* ****** in *** ******* ** ***** ***********, including **** ***:

β€œ*********** ** *** ********** *********** *** the *** ******* ****** ** *** history ** ***********,” **** *********** *** & **-************* *****. β€œ**** *** *********, ***********’* ******* has **** ** **** ************* ******* their ******, *** * **** *** tremendous ******* ** ***********’* ****** ***** encourages **** ******** ** *** ****** crowdfunding *** **** ****** ****** **** their *** ***********.”

*********** ** ****** **** ** ******* money **** ***-********** *********. ******* **** is **** *** ***** ********* ** another ********.

Agree: 1
Disagree
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Funny

**'* ******** *** ***** *********.

***** ********* *** ***% ********** ** go ** ****. **** ******* *** had ** ****** *** *** **** 4 *****, *** *** ********** *** themselves **** ********** **** ****** */* founders *** *** ******** ******* ******** and ****** (*** ***** **** ****).

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*** ***, **** ** *** ****** side, ***** ******** ** ********* ***** is ***** **** **** ** *** SPACs **'** **** ********.

Agree: 1
Disagree
Informative: 3
Unhelpful
Funny: 1

*****,

**** ** **** **** ** ***** in *******?

****, ***** ***** **** ****** ** much **** ******* ********, *** ******'* Knightscope ** **** ** * ******* vehicle *** **** * ******** ******?

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

Agree
Disagree
Informative
Unhelpful
Funny

*** *** **** *******:******** ****** ****** ****** *.*., **** few ******** *******

*** ******* ******* ** *********** *** its ******* ********, **** *** ***** to **** *******, *** *********** ******** is ***** ********** ****, *** *********** robot ********* ******* ** ****** *********** Knightscope *****:

*** ****** ***'* ******* *** *****’* live ***** ** * ******** ***** because **** ***** β€œ**** *******” *** 100 ********* ** **** **** *** agency *** ******** ** ** *** month, ******* ** * **** *** on * ******* ********* ****. ****** added **** *** ********** **** ****** Department **** **** *** *** *** license ***** ******, ******* ******** ** mobile ***** ******** ********, ** **** have *** **** ********** ********* ** the ****** ********** ***.

**** ***** ** **** ******** ** arrests **** **** **** ******* ** the ***** **** *** *** ***** since ** *** ********, ****** **** there *****’* **** ****.

β€œ* **** ** *** **** **’* been ****** ** ***** ******* *** vandalism ******* *** ***** ******,” ** said, ****** **** **** *** **** occurred ***** ** *** *****.

Agree
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Informative
Unhelpful
Funny

** ** ******** *** **** ********* crime! **** * ****.

Agree: 1
Disagree
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Funny: 2

******: *********** ********* ********* ** ***** public ** *** ******:

** *** ******* ********** **** *********** will ** ****** **** *** *.*. Securities & ******** **********, ** ******* an ******** ******* ** ** $** ******* ** connection **** ** ******** ****** ******* on ******.

***** '*****' ******** **** ****** ** **** ** the *** ** *** **** ****** it ** ***** ** *** '******* the ******' *****:

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** **** ***** ** **** **********. Going ****** *** *****. ******** ** public *********, ********** ** *********** **** not ***** ******* ****** ***** ******, could ** * *******.

Agree
Disagree
Informative
Unhelpful
Funny

*********** ** ******* **...

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Agree
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Informative
Unhelpful
Funny
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