“Evolv Technology is combining with a special-purpose acquisition company to go public in a deal that values the crowd-safety firm at about $1.7 billion,” WSJ writes.
- Evolv uses AI and data science for threat prevention, screening people for weapons or any other source of dangers. Its intention is to eliminate the use of things like metal detectors and physical security checks, and venues like Six Flags, Lincoln Center and Gillette Stadium currently use it.
- According to the company, Evolv has screened more than 50 million people in the last four years. The only organization to screen more is the TSA. Microsoft co-founder Bill Gates and former Florida Governor Jeb Bush are invested in Evolv.
- Last year, Evolv started using its tech to check for elevated body temperatures, which its CEO said is in high demand as businesses try to reopen from Covid-19 lockdowns.
“Quantum-computing startup IonQ Inc. plans to merge with blank-check firm dMY Technology Group Inc. III, which would make it the first publicly-traded company specifically focused on commercializing quantum-computing hardware and software,” WSJ writes.
- The deal values IonQ at around $2 billion and within the industry, the company competes against IBM, Microsoft, Google and D-Wave Systems Inc.
- Commercializing quantum computing is an unexplored technical frontier and no “scalable, commercial-grade quantum computer has been built yet.” IonQ expects to deliver one in 2023.
- Within the next three years, around 20% of global organizations (companies and governments) are expected to lay out money for quantum-computing projects. In 2018, this clocked at less than 1%.
2021 SPAC Update (according to SPACInsider):
- IPO Count: 228
- Gross Proceeds: $73.28 Billion
Average IPO Size: $321 Million