• Dubai-based robotics manufacturer Micropolis Robotics announced plans to file for an initial public offering on the New York Stock Exchange to raise $37 million.
• It plans to offer 8.2 million shares at a price range of $4 to $5. At the midpoint of the proposed range, the company would command a market value of $172 million.
• Founded in 2014 by Fareed Aljawhari, Micropolis designs, develops, and manufactures autonomous mobile robots (AMRs) utilising wheeled electric vehicle platforms.
• Last year, it raised a $4 million seed round backed by US-based Mindrock Capital. 

Source: Abu Dhabi SME Hub

The Dubai, United Arab Emirates-based company plans to raise $37 million by offering 8.2 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Micropolis Holding would command a market value of $172 million.

Micropolis is a robotics manufacturer that specialises in developing autonomous mobile robots (AMRs) that utilise wheeled electric vehicle platforms and are equipped with autonomous driving capabilities. The company's product offerings are organized into three main categories: AMRs; operating software, which includes autonomous driving software, fleet mission planner, and user bespoke software development services; and electronic control units and power storage units.

Micropolis is currently pre-revenue, since most of its existing projects are collaborative, and it does not anticipate earning substantial revenues until it enters into commercial production, expected by the end of 2024.Micropolis Holding was founded in 2014 and plans to list on the NYSE though it has not selected a symbol yet (RC ticker: MCRO.RC). The company filed confidentially on October 16, 2023. Network 1 Financial Securities is the sole bookrunner on the deal.