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What Is Evolv? 'Human security' firm backed by Bill Gates to go public in SPAC merger

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Formed in 2013, Evolv's technology uses sensors and artificial intelligence (AI) to screen people as they enter buildings or venues, pitched as an alternative to metal detectors.

It was not immediately clear how much money Gates had invested into Evolv as of 2021. Evolv said in October 2019 it had raised $24 million in new funding.

NewHold Investment Corp. is a special purpose acquisition company , a type of corporate entity that is also known on Wall Street as a"blank check" company.

 

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