US Weekly IPO and SPAC Monitor : IoT Cloud Solutions Developer Samsara Leads

Coming into Year end the IPO market is winding down. This week we have four IPOs scheduled to raise $814 million for the week. IoT solutions developer (IOT) Samsara, CNS biotech Bionomics (BNOX), Fresh Vine Wine (VINE) and Satellite developer Sidus Space (SIDU) are all expected to debut this week.


IoT solutions developer Samsara (IOT)

Samsara plans to raise $753 million at an $11.6 billion market cap. Samsara is a developer of end-to-end Internet of Things solutions for businesses and provides a cloud-based platform. The company provides fleet monitoring and management software to vehicle operators. The aim is to enhance operational efficiency and asset and employee productivity. Fast growing but highly unprofitable, Samsara saw double-digit growth for customers with $100k+ ARR in the 9mo FY22.

Samsara Cloud

Samsara Product Offerings

The company’s product offerings include

  • The Connected Operations Cloud – Centralized operations data on a unified platform
  • Apps & Driver Workflows – Messaging, dispatch, documents, ELD
  • Video-Based Safety – AI cameras, driver coaching, safety reports, in-cab alerts
  • Equipment Monitoring – Location tracking, utilization, continuous diagnostics
  • Vehicle Telematics – Real-time GPS, routing, fuel, maintenance, electrification
  • Site Visibility – Remote visibility, proactive alerting, on-the-go access
  • App Marketplace – Install turnkey integrations

The company uses its data to develop actionable business insights. In 2020, Samsara processed more than 38 billion minutes of video. Now, the platform makes over one billion AI-based detections annually.

Samsara  has raised a total of $930M in funding over 7 rounds. Their latest funding was raised on Sep 24, 2020 from a Secondary Market round. Samsara is funded by 10 investors. Raison Asset Management and Warburg Pincus are the most recent investors. Samsara has a post-money valuation in the range of $1B to $10B as of May 21, 2020, according to PrivCo.

CNS biotech Bionomics (BNOX) 

Bionomics plans to raise $25 million at a $113 million market cap. The company is already listed in Australia. The company is advancing its lead candidate, BNC210, for the acute treatment of Social Anxiety Disorder (SAD) and chronic treatment of Post-Traumatic Stress Disorder (PTSD). It expects to initiate a Phase 2 trial for SAD by the end of 2021, and has already initiated a Phase 2b trial for PTSD.

Fresh Vine Wine (VINE)

Fresh Vine Wine plans to raise $21 million at a $116 million market cap. This celebrity-founded company produces low carb, low calorie premium wines. Growing but highly unprofitable, Fresh Vine sells its wines through wholesale, retail, and DTC channels, and is able to conduct wholesale distribution in all 50 states and Puerto Rico.

Micro-cap satellite developer Sidus Space (SIDU)

Sidus Space plans to raise $15 million at an $81 million market cap. This company provides commercial satellite services such as design, manufacture, launch, and data collection.  Sidus Space has generated space-related manufacturing revenues to date, but is highly unprofitable with negative gross margin in the 9mo21.

IPO Week Ahead

Street research is expected for 11 companies, and lock-up periods will be expiring for up to 11 companies.

 Source: Renaissance Capital

From The TradersCommunity News Desk

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