Knightscope shares jumped 35% on Monday: explore why

Shares of Knightscope Inc (NASDAQ: KSCP) are up more than 35% this morning after the American robotics company announced a strategic partnership with Allied Universal.

Knightscope to provide ASRs to Allied’s U.S. customers

The Pennsylvania-based security systems and services company will have its U.S. customers use Knightscope’s Autonomous Security Robots (ASRs) to deter crime, enhance situational awareness and improve security professional safety.

Knightscope’s technologies include K1 Stationary, K3 Indoor, and K5 Outdoor ASRs, connected with the Knightscope Security Operations Centre. In the press release, President Carey Boethel of Allied Universal said:

Our commitment to providing the best proactive security services to our customers is unwavering. The partnership with Knightscope allows us to expand our delivery of smart cutting-edge technologies to enhance public safety, allowing our customers to focus on their core businesses.

Knightscope CEO William Santana’s comments

Knightscope’s autonomous robots are widely known for minimising crime and enhancing security outcomes at the site of deployment. Commenting on the news, CEO William Santana Li said:

Partnering with Allied Universal is a perfect recipe for success – robots are deployed to do the monotonous, computational heavy work while the strategic, hands-on activities are the responsibility of the humans. We are excited for the future that this agreement will bring in driving steady long-term growth.

Founded in 2013, Knightscope is a California-headquartered company that went public last month and skyrocketed to a high of $21 but gave up the entire gain in February. Including today’s price action, the stock has still recovered to $8.65 a share only.

The post Knightscope shares jumped 35% on Monday: explore why appeared first on Invezz.

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