Evolv Technologies, Inc.
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Evolv Technologies, Inc. - overview
Established
2013
Location
Waltham, MA, US
Primary Industry
Business Support Services
About
Founded in 2013 and based in Massachusetts, US, Evolv Technologies, Inc. develops and provides metamaterials-based imaging and detection products for public security. The company was co-founded by Anil Chitkara and Michael Ellenbogen. In March 2021, Evolv merged with NewHold Investment Corporation, a special purpose acquisition company (SPAC), to operate as Evolv Technologies, Inc.
for approximately USD 172. 5 million in cash, and in the same month, Evolv Technologies, Inc. raised USD 300 million in PIPE funding from Eldridge Industries, Magnetar Capital, and Motorola Solutions, Inc. Evolv operates as an AI-based touchless security screening system that uses digital sensors to detect threats.
Evolv Technologies offers its products Evolv Edge, a system that uses active MMW imaging that scans individuals for weapons and bombs and Evolv Pinpoint is a face recognition system that identifies individuals by walking through the Evolv Edge and capturing photos to match them in the real-time database. IonQ plans to go public to NYSE under the ticker symbol EVLV.
Current Investors
General Catalyst Partners, Lux Capital, DCVC
Primary Industry
Business Support Services
Sub Industries
Security Services, Electronic Components
Website
www.evolvtechnology.com
Verticals
Artificial Intelligence, Artificial Intelligence, Big Data, Manufacturing
Total Amount Raised
Subscriber access only
Evolv Technologies, Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PIPE | Completed | Evolv Technologies, Inc. | - |
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