Serve Robotics announces go public move as startup secures $30 million investment
Autonomous sidewalk delivery robot startup, Serve Robotics, which was spun out of Uber’s acquisition of Postmates, has gone public via a reverse merger with Patricia Acquisition Corp, and also raising $30 million in a round led by existing investors Uber, Nvidia, and Wavemaker Partners.
This brings the company’s total funds secured to over $56 million.
Uber Vice President of Delivery and Head of Americas, Sarfraz Maredia, has now joined the board.
The latest financing enables Serve to enter new markets across the United States and advance its AI powered mobility platform.
It will also begin scaling up its robotic fleet to meet what it describes as “massive and rapidly-increasing customer demand for last mile automation”, including fulfilling its commercial agreement to deploy up to 2,000 robots with Uber Eats.
“We’re thrilled that our core strategic partners Uber and Nvidia continue to back Serve as we work to bring sustainable, autonomous delivery to every doorstep in the next five years,” says Dr. Ali Kashani, Co-founder and CEO at Serve.
“Our delivery volume has grown over 30% month-over-month on average for the past 18 months.”
“Becoming a public company provides broader access to capital, supporting our continued growth as we ramp up our partnership with the world’s largest food delivery platform and expand other enterprise partnerships.”
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