HL Mando, a South Korean company specializing in components for electric cars and self-driving vehicles, is developing an autonomous valet parking robot named Parkie. The company plans to conduct field testing for Parkie early next year.
Parkie, a sleek 3.5-inch-high flat platform, is designed to autonomously park various vehicle types, including sports cars and SUVs, without requiring external assistance.
Equipped with advanced technology, the robot can gauge a vehicle’s weight, wheelbase distance, license plate number, and assess road conditions before efficiently parking the car.
Scheduled to commence testing in April at a startup hub south of Seoul, Parkie operates on Level 4 autonomous driving technology, eliminating the need for human supervision. According to HL Mando, once commercialized, the Parkie valet parking system is projected to be 20% more cost-effective than conventional methods.
The company said that pilot test results, anticipated next year, will play a crucial role in evaluating the effectiveness and feasibility of the autonomous parking robot. Daelim University automotive Professor Kim Pil-soo commented on the significance of such innovations, noting that while autonomous parking systems in open-air environments are relatively achievable, realizing them indoors presents significant challenges. In this context, robots like Parkie hold substantial potential for addressing complex indoor parking scenarios.
Several other industries have been embracing autonomous robots, including construction, agriculture, healthcare and security. The security robot market in particular is gaining traction, hitting $13.82 billion in 2023 and projected to grow at a compound annual growth rate (CAGR) of 13.57% to reach $26.11 billion by 2028.
Among the companies creating waves in this space is Knightscope, Inc. (NASDAQ:KSCP), a leading developer of autonomous security robots and blue light emergency communication systems that increase safety in residences, workplaces, educational institutions, and public spaces. Its cutting-edge robots, designed to discourage, detect, and report incidents, contribute significantly to crime prevention.
Knightscope Reaches a Key Milestone
Knightscope, Inc. (NASDAQ:KSCP) has just been awarded a FedRAMP Authority to Operate (ATO) sponsored by the U.S. Department of Veterans Affairs. This accomplishment means that Knightscope will eventually be listed on the FedRAMP Marketplace as an approved provider for federal agencies as a next step and can also begin its deployment processes to perform on the contract awarded by the VA for its first K5 ASR.
Mercedes Soria, EVP and Chief Intelligence Officer, who led the nearly three-year effort to achieve the ATO milestone, said that this achievement not only underscores Knightscope‘s dedication to cybersecurity but also reaffirms the company’s commitment to enhancing national security. Soria believes that the rigorous process undertaken during this achievement has strengthened Knightscope‘s overall security posture, positively impacting its commercial and civilian applications.
William Santana Li, Chairman and CEO, outlined Knightscope‘s 2024 Roadmap to Profitable Growth in a blog post. The roadmap focuses on key areas such as growth, margin improvements, acquisitions, and the commencement of pre-orders for the all-new K7 in 2025. According to Li, the ATO accomplishment reflects the relentless nature of the Knightscope team and significantly expands the Total Addressable Market (TAM) the company can serve.
Protecting the Places People Live, Work, Study, and Visit
Knightscope’s autonomous security robots use a unique combination of self-driving technology, robotics, AI, and electric “vehicles” to provide humans with extra eyes, ears and a voice on the ground.
Knightscope, Inc. (NASDAQ:KSCP) just announced a new contract with a California-based supplier specializing in semiconductor final-test equipment, system-level test sockets, and thermal control units. The contract includes the deployment of one 5th Generation K5 Autonomous Security Robot (ASR) and two K1 Hemispheres (K1H).
The client, a major player in semiconductor test equipment, has strategically invested in advanced technologies to enhance security while minimizing guarding costs at its domestic chip production, testing, and research facility. In line with the Semiconductor Industry Association’s emphasis on prioritizing supply chain security, the client recognizes the importance of safeguarding various sectors, including automotive semiconductors and information technologies.
The K5 ASR is set to patrol the manufacturing floor indoors, providing surveillance among high-end test equipment and supplies. Meanwhile, one K1H will be stationed at the front entrance of the building, and the second K1H will monitor the rear area, adjacent to a regional airport. Following the initial deployment, the client will assess the program’s effectiveness, with potential plans to expand it to the company’s other nine locations across the United States.
In addition, Knightscope, Inc. (NASDAQ:KSCP) recently secured two significant sales in the healthcare and higher education sectors. These transactions involve the acquisition of four additional emergency communication devices and associated services, marking a continued expansion into rapidly growing market segments.
A private university in California has opted to enhance its emergency phone system by incorporating two K1 Blue Light Towers, complemented by a comprehensive maintenance program. This strategic addition increases access to critical services across the campus, with a total of 15 devices now in operation.
Knightscope‘s K1 Blue Light Towers and Blue Light Emergency Phones offer highly visible and recognizable fixed locations for reliable communication, especially in situations where cellphone batteries are depleted or service is unavailable. Installation is hassle-free, as these devices are fully wireless and do not necessitate excavation or trenching. With a simple button press, students, guests, or teachers can swiftly contact security for immediate assistance during emergencies.
They are perfectly suited to parking lots and structures, college and university campuses, electric charging stations, remote biking/hiking paths, transit stations, offices, and more.
Paramount Security Partners, an authorized Knightscope Partner (KAP), has successfully sold two solar-powered K1 Blue Light E-Phones to a well-known teaching hospital and biomedical research facility in New Jersey. This hospital, a major healthcare provider in the region with over 1.2 million outpatient visits annually and more than 7,000 employees, has embraced Knightscope‘s recommendations for bolstering security in medical facilities. By deploying Knightscope‘s technologies, clients aim to ensure the safety of healthcare workers and patients while proactively preventing minor issues from escalating into major concerns.
For further information on Knightscope’s innovative solutions and projects, please visit Knightscope’s website (NASDAQ:KSCP).
Featured Image @ FreePik
1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies outlined in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.
2) The Article was issued on behalf of and sponsored by, Knightscope, Inc. Market Jar Media Inc. was paid $1,500 for the production and publishing of this article by Knightscope, Inc.’s Digital Marketing Agency of Record (Native Ads Inc.). Additional details relating to Market Jar Media Inc.’s engagement by Knightscope, Inc.’s Digital Marketing Agency of Record (Native Ads Inc.) are set out in https://pressreach.com/disclaimer-kscp.
3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. Market Jar has not independently verified or otherwise investigated all such information. None of Market Jar or any of their respective affiliates, guarantee the accuracy or completeness of any such information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy.
5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article.
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.
Except as required by law, Knightscope, Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Knightscope, Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Knightscope, Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Knightscope, Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Knightscope, Inc or such entities and are not necessarily indicative of future performance of Knightscope, Inc. or such entities.
8) Investing is risky. The information provided in this article should not be considered as a substitute for professional financial consultation. Users should be aware that investing in any form carries inherent risks, and as such, there is a possibility of losing some or all of their investment. The value of investments can fluctuate significantly within a short period, and investors must understand that past performance is not indicative of future results. Additionally, users should exercise caution as transactions involving investments may be irreversible, even in cases of fraud or accidental actions. It is crucial to acknowledge that rapidly evolving laws and technical issues can have adverse effects on the usability, transferability, exchangeability, and value of investments. Furthermore, users must be cognizant of potential security risks associated with their investment activities. Individuals are strongly encouraged to conduct thorough research, seek professional advice, and carefully evaluate their risk tolerance before engaging in any investment endeavors. Market Jar Media Inc. is neither an investment adviser nor a broker-dealer. The information presented on the website is provided for informative purposes only and is not to be treated as a recommendation to make any specific investment. No such information on PressReach.com constitutes advice or a recommendation.