Security robotics developer Knightscope this week announced that it has secured a $3 million strategic investment from Konica Minolta, a Japanese-based manufacturer of business and industrial imaging products.
According to a statement, Konica Minolta, which last year acquired a majority ownership stake in German video surveillance company Mobotix, has invested $1 million immediately and has committed to invest an additional $2 million upon achievement of certain milestones. This commitment is in addition to a prior investment the company made in Knightscope in 2014.
The initial relationship between the companies enabled Knightscope to leverage Konica Minolta’s service technicians in the U.S. to provide the support infrastructure necessary for the company’s growth.
“Knightscope has demonstrated tremendous growth on the cutting edge of the security industry. Their autonomous capabilities and crime-deterring technology helps further the robotics and AI sector, a key focus area for the Konica Minolta Business Innovation Center,” said Ekta Sahasi, vice president of the U.S. Business Innovation Center.
Concurrent with the investment, the parties also executed a three-year service agreement to build on their existing operating relationship. While the majority of all repairs and patches to Knightscope machines may be successfully completed over-the-air 24/7, the agreement enables the company to call on Konica Minolta at times when a service technician is required to be on premise. Knightscope and Konica Minolta have been operating together using this model throughout California, Texas and Massachusetts.
“This is our year to begin scaling operations, and we are in process of adding Florida, New York and Washington D.C. with a sales pipeline that continues to strengthen every week. The team members at Konica Minolta have been true professionals and, in a number of cases, have gone beyond the call of duty to support Knightscope and our clients. We are proud of our partnership as we drive to our ambitious goal of cutting the $1 trillion annual negative economic impact of crime on the U.S. literally in half. That would have a material and positive impact on everything and everyone,” said William Santana Li, chairman and chief executive officer, Knightscope, Inc.
