Dubai’s Micropolis Holding Starts $37 Million US IPO Filing
The company aims to raise up to $37 million through its forthcoming IPO.
Dubai-based Micropolis Holding, a developer of autonomous mobile robots and associated software, has filed for an initial public offering (IPO) with the US Securities and Exchange Commission (SEC). The company aims to raise up to $37 million through the IPO.[1]
The IPO prospectus outlines Micropolis Holding's intention to offer 8.2 million shares at a targeted price range of $4 to $5 per share. If successful, this would translate to a market valuation of $172 million at the midpoint of the proposed range.
Network 1 Financial Securities will act as the sole bookrunner for the IPO.
Specialized in the development of autonomous mobile robots (AMRs), Micropolis deploys the latest technology on wheeled electric vehicle platforms, integrating autonomous driving capabilities.The company's product portfolio is structured into three core categories: AMRs, encompassing a range of robotic solutions; operating software, featuring autonomous driving software, fleet mission planner, and customizable software development services; and electronic control units and power storage units.
Micropolis is pre-revenue, although it has numerous collaborations, including one with Dubai Police to develop autonomous rovers. It is expected to begin earning revenues by the end of 2024, when it enters into commercial production. Two weeks ago, it was recognized as one of the top 100 Future Companies by Future 100 initiative.
Founded in 2014, Micropolis Holding first filed confidentially for an IPO on 16 October, 2023.