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LiDAR-Camera fusion is revolutionizing autonomous driving by blending LiDAR’s depth perception with vivid camera data, setting a new standard for object detection accuracy. The World Electric Vehicle Journal highlights how this integration dramatically improves detection reliability, making autonomous vehicles smarter and safer. This technology also plays a significant role in security due to its ability to provide high accuracy, real-time tracking, and seamless integration with existing infrastructure. Knightscope, Inc. (NASDAQ:KSCP), an innovator in robotics and AI technologies focused on public safety, recently announced its LiDAR-based detection systems with integrated perception software to bolster perimeter security. At the same time, companies like Innoviz Technologies Ltd. (NASDAQ:INVZ), Ouster, Inc. (NYSE:OUST), Luminar Technologies, Inc. (NASDAQ:LAZR), and MicroVision, Inc. (NASDAQ:MVIS) are leveraging LiDAR for advancements in autonomous driving, robotics and security solutions.
Advanced public safety technology company Knightscope, Inc. (NASDAQ:KSCP) has continued to build cutting-edge technologies to improve public safety across America. The company has developed and deployed its Autonomous Security Robots (ASRs), blue light emergency communication towers and Automated Gunshot Detection systems across the US to protect people at airports, schools, hospitals, parking lots, entertainment venues, and other public places.
On July 16, Knightscope, Inc. (NASDAQ:KSCP) announced its new “Knightscope K1 Laser” product line, which uses LiDAR-based technology to detect people and objects and integrated perception software for enhanced situational awareness to provide elevated safety where people live, work, study and visit.
The K1 Laser device can be used on fixed infrastructure or in conjunction with Knightscope’s K1 stationary technology portfolio, which includes parking lots and structures, building interiors, university campuses, transit stations, and more. Knightscope K1 Laser clients will be able to overlay the lidar perception software for security applications, enabling improved detection and alarms supported by the company’s Risk & Threat Exposure (RTX) team. The K1 Lasers function in harsh weather and low or no light situations, consistently revealing advanced information that the 80+ million security cameras in the US cannot.
“Our Knightscope K1 Laser is designed to drive exceptional value from lidar systems, providing high accuracy in detecting, classifying, and tracking people, vehicles and objects,” said Knightscope, Inc. (NASDAQ:KSCP) Chairman and CEO William Santana Li. “Our products will also integrate with lidar-based perception software, which can reduce false alarms and missed events by as much as 95%, ensuring that we provide our clients with the highest levels of safety in covered areas with reliable monitoring and detections, especially for perimeter security.”
The expanded stationary product line will complement Knightscope‘s Autonomous Security Robots (ASR) business, which already employs LiDAR for navigation and object detection.
Earlier this year, Knightscope signed a Memorandum of Understanding (MoU) with Draganfly Inc. (NASDAQ:DPRO), an industry-leading drone solutions developer, to fully integrate Draganfly’s drone technology with Knightscope’s ASR technologies, creating a unified autonomous offering that reimagines public safety.
The integration of autonomous drones with ground-based robots and stationary emergency communication devices enhances safety by providing a comprehensive suite of public safety solutions. This synergy will improve situational awareness, enhance threat detection, and bolster crime prevention efforts, making public spaces safer through advanced, multi-layered security measures. The new technology will be incorporated into the Knightscope Security Operations Center (KSOC) user interface, offering clients aerial surveillance options that complement ground operations and provide real-time, adaptable responses to security incidents.
Click here for more information about Knightscope, Inc. (NASDAQ:KSCP).
Latest LiDAR Innovations and Financial Achievements in the Automotive Industry
On July 3, Luminar Technologies, Inc. (NASDAQ:LAZR) launched its Sentinel software suite, designed to accelerate the development of advanced safety and autonomous functionalities in vehicles. The Sentinel suite includes features like Proactive Safety, Perception, 3D Mapping and Localization, Simulation, and Dynamic LiDAR. Following five years of development, the full-stack software kits are set to ship to top automakers starting in the third quarter of this year. Luminar Technologies’ in-house software teams, along with partners like Scale AI and Applied Intuition, have focused on creating a toolkit for next-generation safety and autonomy for consumer vehicles. According to a study by Swiss Re, cars equipped with Luminar’s LiDAR and Sentinel software showed a 40% reduction in accident severity, highlighting the significant safety enhancements offered by this technology.
On June 26, Innoviz Technologies Ltd. (NASDAQ:INVZ) announced a collaboration with a major automotive OEM to enhance Level 4 (L4) autonomous driving capabilities by incorporating Innoviz’s new short-range LiDARs into the OEM’s platform. This agreement will integrate the short-range LiDARs, which feature high-resolution detection and a 90-degree vertical field of view, designed to meet the stringent requirements for light commercial vehicles, shuttles, robotaxis, and trucks. This collaboration is expected to lead to a series production nomination, pending agreement on commercial terms, and marks a significant step forward in advancing safe and powerful autonomous driving technologies.
In May, leading global provider of lidar sensors and software solutions Ouster, Inc. (NYSE:OUST) announced record-breaking financial results for the first quarter of 2024, with revenue reaching $26 million, a 51% increase year over year. The company reported a GAAP gross margin of 29%, a significant improvement from the -2% margin in the same period last year, and a record non-GAAP gross margin of 36%. Ouster shipped approximately 4,500 sensors, driving revenue growth primarily from large orders in the robotics and automotive sectors. CEO Angus Pacala highlighted the company’s continued advancement in next-generation hardware and software, aiming to extend Ouster’s competitive edge and move closer to profitability.
On May 9, MicroVision, Inc. (NASDAQ:MVIS) reported its first-quarter 2024 results, highlighting active engagement in high-volume global OEM RFQs for passenger vehicles and expanding revenue opportunities in industrial markets. The company is leveraging partnerships and licensing opportunities to accumulate non-dilutive cash and enhance its cash runway through disciplined fiscal management. Financially, MicroVision reported $1.0 million in revenue, primarily from MOVIA sensor sales, with a net loss of $26.3 million. The company ended the quarter with $73.1 million in cash and cash equivalents. CEO Sumit Sharma emphasized the company’s confidence in its LiDAR solutions and commitment to becoming a leading automotive OEM supplier.
On July 8, 2024, Knightscope, Inc. (NASDAQ:KSCP) announced three new contracts for its K1 Emergency Communication Devices to support public safety programs in South Boston, Virginia; Farmington, Pennsylvania; and Buffalo Grove, Illinois.
Click here for more information about Knightscope, Inc. (NASDAQ:KSCP).
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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) the accuracy of budgeted costs and expenditures; (e) Knightscope, Inc.’s ability to attract and retain skilled personnel; (f) political and regulatory stability; (g) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (h) changes in applicable legislation; (i) stability in financial and capital markets; and (j) 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.
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