Micropolis Holding Co. (MCRP) to Raise $22 Million in IPO

Micropolis Holding Co. (MCRP) is planning to raise $22 million in an initial public offering (IPO) on Thursday, February 27th, IPO Scoop reports. The company plans to issue 5,000,000 shares at $4.00-$5.00 per share.

The company has a market cap of $157.5 million.

Network 1 Financial acted as the underwriter for the IPO.

Micropolis Holding Co. provided the following description of their company for its IPO: “We are a holding company. Micropolis Digital Development FZ-LLC (“Micropolis Dubai”), our wholly owned subsidiary, is a robotics manufacturer founded in 2014 and based in the United Arab Emirates (“UAE”) with its headquarters located in Dubai Production City, Dubai, UAE. (Incorporated in the Cayman Islands) We specialize in developing autonomous mobile robots (“AMRs”) that utilize wheeled electric vehicle (“EV”) platforms and are equipped with autonomous driving capabilities. We have historically conducted our business through Micropolis Dubai. We operate in the GCC region, with a focus on the UAE and Saudi Arabia. The robotics industry in the UAE and Saudi Arabia is rapidly growing, with governments committing significant resources to technological advancement. Furthermore, Dubai, a hub for technological innovation in the region, presents a unique opportunity for the Company. With a robust portfolio of AMRs and a strong track record of successful partnerships with local governments, the Company is poised to take advantage of the growing demand for innovative robotics solutions in the Middle East. Our flagship products are customized AMRs that can operate without the need for human intervention. These robots can be used in a wide range of industries, including security, hospitality, real estate, retailing, city cleaning, and logistics. The robots can be equipped with advanced sensors, machine learning algorithms, and computer vision technology that enable them to navigate complex environments, avoid obstacles, and interact with humans. We specialize in the development and integration of AMRs, operating software, electronic control units and power storage units. Our extensive product offerings are organized into three main categories: A.     AMRs: Our AMRs (autonomous mobile robots) are engineered with precision and tailored to meet diverse requirements. They are composed of two main parts, namely the mobility specific platform and application-specific pods. B.     Operating Software: Our software suite is further segmented into three distinct categories: (1) autonomous driving software, allowing users to manage fleets of AMRs from an operational room with real-time streaming service; (2) fleet mission planner, aiding operators in mission planning, path management, and performance monitoring; and (3) user bespoke software development service, offering customized software solutions for customers, integrating additional robot functionalities with existing systems to ensure cost-effectiveness and seamless deployment C.     Electronic Control Units and Power Storage Units: Our in-house-developed control units and power storage solutions serve as the driving force behind our AMRs, providing energy-efficient and reliable performance. The Micropolis Robotics Controller Unit (“MRCU”) is an innovative and advanced electronics board designed to serve as a centralized control unit for a wide range of robots, including AMRs and EVs; while The Smart Power Distribution Unit (“SPDU”) is designed to address the challenges present in battery-based systems, i.e. efficient energy utilization. Our business is collaboration-based. In collaboration with our customers and partners, we are actively engaged in the development of cutting-edge technologies that aim to bring enhancements in security, logistics, and surveillance operation management. We have established a strong track record of successful partnerships with local governments and real estate developers. Our work with the Dubai Police is a prime example of this ongoing effort; they are playing an essential role in the creation of “Microspot,” which is an AI-powered security software we are currently developing as of the date of this prospectus. In particular, the Dubai Police have assembled a team to assist us in shaping the Microspot software, providing crucial insights into police operations and supplying dummy data for data science and machine learning. This partnership has not only facilitated us in navigating regulatory complexities but also provided invaluable support in testing and validating our products. Further, we have partnered with Dubai Police to develop self-driving security patrolling vehicles that enhance security surveillance operations, to help reduce crime through security deterrence. We are also working closely with the Road and Transportation Authority in Dubai, UAE (“RTA”) through Dubai Police Innovation Lab. RTA is aiding us by designating the Jumeirah 1 area in Dubai as a safe testing environment for our autonomous driving system, which is still in development as of the date of this prospectus. RTA is also supplying high-definition maps of the area and data that will be essential in shaping the autonomous driving system. Furthermore, our ongoing partnership with The Sustainable City in Dubai is proving invaluable, as they provide us with both high-definition city mapping and a living lab within their residential community for testing and validation. This collaboration allows us to work within a real-life environment to iteratively refine our autonomous driving features. Further, we have also worked with The Sustainable City in Dubai to develop autonomous community delivery robots that are able to autonomously deliver goods within their assigned territory, making urban and sub-urban logistics more cost effective and energy preserving. Note: MIcropolis Holding Co. reported a net loss on minimal revenue for the 12 months that ended June 30, 2024. (These net loss and revenue figures are in U.S. dollars converted from the UAE’s currency.) (Note: Micropolis Holding Co. cut its IPO’s size to 5.0 million shares – down from 8.2 million shares originally – and kept the price range of $4.00 to $5.00 – to raise $22.5 million, according to its F-1/A filing on Sept. 24, 2024. Background: Micropolis Holding Co. initially planned to offer 8.2 million shares at $4.00 to $5.00, according to its F-1 filing on Dec. 22, 2023.) “.

Micropolis Holding Co. was founded in 2014 and has 82 employees. The company is located at Warehouse 1, Dar Alkhaleej Building Dubai Production City, Dubai, UAE and can be reached via phone at +971 4 276 7008 or on the web at http://www.micropolis.ai/.