Expanding the edge of what is possible to deliver to the next generation of autonomous vehicles.
Dubai-based robotics startup Micropolis is seeking to raise $37 million in an IPO by listing its shares on the New York Stock Exchange (NYSE). The startup plans to offer 8.2 million shares at a price range of $4 to $5 per share, potentially resulting in a valuation of around $172 million, the company announced in its submission to the US Securities and Exchange Commission (SEC).
Founded in 2014 in Dubai Production City, Micropolis specializes in the development of autonomous mobile robots (AMRs) using wheeled electric vehicle (EV) platforms. The company is strategically positioned in the growing robotics industry in the Gulf Cooperation Council and has begun working with the Dubai police.
Headquarters in Dubai
The United Arab Emirates is positioning itself as a leader in robotics innovation, particularly in the realm of developing autonomous systems for diverse industries. The police vehicle feels like it’s part of the Neom dystopian universe in Saudi Arabia.
The robots, according to the company, have the capability to function autonomously and have applications across various sectors such as security, hospitality, real estate, retail, sanitation, and logistics. Notably, the company has partnered with Dubai Police to implement self-driving patrols, enhancing security surveillance operations.
It took 65 engineers 5 years of research to build the vehicle named Autonomous Police Patrol M02, which according to its makers can function with an accuracy rate of 99.9 percent.
Additionally, Micropolis has designed a surveillance robot equipped with a surveillance camera and a drone launcher, catering to the needs of the Saudi Arabia Ministry of Interior.
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