PALO ALTO, CA / ACCESSWIRE / July 26, 2021 / Palo Alto Based inGen Dynamics, Inc. today announced a $50 Million investment commitment from GEM Global Yield LLC SCS ('GEM'), the $3.4 Billion, Luxembourg based, private alternative investment group with offices in Paris, Nassau (Bahamas), New York, and Los Angeles. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 440 transactions in 72 countries.
Under the agreement, GEM will provide inGen Dynamics Inc. with a Share Subscription Facility of up to $50 million for a 36-month term following a public listing of the inGen Dynamics common stock. Along with this inGen Dynamics crosses $225 Million valuation in 2021 and also makes it a Unicorn-in-Waiting with the certainty of capital upon listing on NASDAQ.
inGen Dynamics will control the timing and maximum amount of drawdowns under this facility and has no minimum drawdown obligation. Concurrent with a public listing of inGen Dynamics's shares, inGen Dynamics will issue warrants to GEM to purchase up to 4.5% of the common stock of the company
The recent round of funding brings the total funding commitment to $54 Million at the most recent valuation of $225 Million. The round continues the fundraising momentum with previous investor rounds in 2020.
Just as mass-market adoption of automobiles took a couple of decades after the first cars rolled off the factory floor, adoption of new tech trends often takes a little time before the culture and economy are ready for it. But sometimes the stars do align, and the right technology arrives at a time when the market is ready for change.
inGen Dynamics Founder / CEO and sci-fi aficionado Arshad Hisham is hoping to make that next leap, this time in the world of Robotics and AI. As Hisham puts it, 'One of the things that I wanted to do from an early age, being a big fan of Asimov, Battlestar Galactica, and other prominent science fiction, is to bring some of the science fiction to reality.'
Originally, the company focused on creating A.I and robotics products for homes and social use. However, inGen has continued to broaden its products by diversifying its targeted industries to include security, education, and healthcare industries, among others.
Founded in Palo Alto in 2015 and the company and products have been recognized by major associations including IEEE, Disney, Boston Consulting Group, and Robo-Business and featured in major global research reports on security and home robotics. inGen and its products have also been featured in Fortune, Forbes, PopSci, IEEE, BCG, Discovery, and Mashable.
Aido Robot & Fari Robot are some of the smartest and most inclusive family companion robots on the market today. Both were created under the flagship of inGen Dynamics Inc. The company statement at inGen Dynamics says that they passionately believe that Robotics and AI have the incredible potential of improving our lives in a manner that we have never dreamt possible.
The various technologies inGen have developed has been referenced and studied by prestigious universities since inception including M.I.T (USA), University of Pennsylvania (USA), University of Washington (USA), University of Kassel(Germany), University of Plymouth (UK), Universitat Politècnica de Valencia (Spain) just to name a few.
'The company plans to go public through either a merger with a special purpose acquisition company or a direct listing on the NASDAQ' Founder and Chief Executive Officer Arshad Hisham said. Arshad went on to state 'We are pleased with the agreement announced today, it starts a series of steps inGen will be taking in the coming quarters towards the achievement of our long-term goals.'
Tech unicorns - start-up's with a valuation of $1 Billion or more -- are less of a rarity in Robotics and AI. One of the popular unicorns in robotics is UB tech Robotics. And in India, robotic companies such as GreyOrange Robotics are showing a lot of promise. AI start-up's valued at $1B+ nearly doubled in 2018. From banking fraud prevention to handheld ultrasounds to recruiting software the best AI unicorns are majorly in the field of big data analytics, autonomous driving, facial recognition, etc. According to research firm CB Insights, more than 30 AI unicorns are now valued at more than a billion dollars.
inGen Dynamics Inc. is the brainchild of, Arshad Hisham - A serial entrepreneur and engineer/inventor with multiple degrees in Business, Engineering, and Projects including a MBA. He has been a founder in Hardware Automation, and enterprise software start-up's in the past. He is internationally published in Robotics and has also held senior roles at IBM, Govt. of Australia, and Toyota during his 10-year corporate career. A frequent keynote speaker, futurist, and A.I. enthusiast, he has been an expert panelist/speaker at the annual IEEE Robotics Symposium ( New York ), the Boston Consulting Groups' annual AI event ( Chicago ), and at the industry leading Robo-Business event ( San Jose ).
With its highly experienced leadership and technical team and strong product portfolio, inGen Dynamics is positioned to become one of the first companies in the world to commercialize a ubiquitous Robotics and AI platform called the Origami platform. Be it providing affordable AI and Robotics solutions to developing nations, progressive surveillance capabilities for commercial and residential premises, or game-changing healthcare and educational robots, inGen Dynamics is now poised to be a transformative force in the rapidly evolving Robotics and AI space.
inGen Dynamics, as an emerging growth company, is actively hiring and growing its team across all regions, including EMEA, AMER, and APAC. The company also intends to expand its global product manufacturing locations this year. The full suite of AI-Enabled Robots and Intelligent Products will be offered, sold, and deployed worldwide.
Through the revolutionary Origami Platform, inGen Dynamics is vying to become the next Robotics and AI unicorn from North America and its ambitions now stretch beyond the continent.
With certainty of capital upon listing on NASDAQ, inGen Dynamics is now well-positioned as the company enters its next stage of development as a Unicorn-in-Waiting in the rapidly growing Robotics and AI sector.
Global Emerging Markets ('GEM') is a $3.4 billion, alternative investment group with offices in Paris, New York, Nassau (Bahamas), and Los Angeles. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 440 transactions in 70 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities, and select venture investments. For more information: http://www.gemny.com
About inGen Dynamics Inc.
inGen Dynamics is an AI and Robotics company dedicated to positively influencing the world's perception of intelligent machines. We create smart, innovative solutions that simplify the complexities of life. Our passion is about bringing together state-of-the-art technology with everyday living. Bridging the gap between science fiction and reality, we deliver intelligent, innovative products that solve real-world problems and enhance lifestyles.
The company and products have also been featured in major global research reports on security & home robotics, as well as VentureBeat, Bloomberg, Business Insider, Yahoo Finance, IEEE, Fortune, PopSci, Forbes, BCG, Discovery, and Mashable. For more information: http://www.getaido.com
SOURCE: inGen Dynamics
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