Evolv Technology went public via the merger with NewHold Investment in a $1.3bn deal.

Evolv Technology, an AI touchless security screening company, went public via the merger with NewHold Investment, a SPAC, in a $1.3bn deal. All current Evolv stockholders, including Bill Gates, Lux Capital, General Catalyst, DCVC, SineWave Ventures, Motorola Solutions, STANLEY Ventures, and Finback Investment Partners, retained their equity holdings through closing. The transaction included a PIPE investment, anchored by Motorola Solutions, Magnetar Capital, Eldridge, Senator Investment Group and UBS O’Connor, and star athletes, franchise owners and managers including Peyton Manning, Andre Agassi, Steffi Graf, Joe Torre, Theo Epstein, Tony Ressler, Mark Attanasio and Bennett Rosenthal. “This transaction will provide Peter and the Evolv team with the capital to continue to develop the leading technologies that will make people safer and make their lives more convenient," Kevin Charlton, NewHold Investment CEO. On July 15, 2021; NewHold Investment shareholders approve the $1.3bn business combination with Evolv Technology.