Serve Robotics, the forefront autonomous sidewalk delivery company, has secured $30 million in financing, signaling a robust investment boost that brings the company’s total funds raised to $56 million.
This significant capital infusion coincides with a transformative reverse merger with Patricia Acquisition Corp., solidifying Serve’s position as a leading player in the autonomous delivery market.
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— Serve Robotics (@ServeRobotics) August 10, 2023
The strategic funding and merger will propel Serve’s mission of revolutionizing last-mile automation and sustainable, self-driving delivery.
The latest funding round, led by established investors Uber, NVIDIA, and Wavemaker Partners, showcases the unwavering support from industry giants in shaping the future of autonomous delivery.
New investors, including Mark Tompkins and Republic Deal Room, have also contributed to this financing. Serve’s strategic partnership with Uber and NVIDIA further cements its commitment to advancing the autonomous mobility platform and expanding its innovative robot fleet.
SPAC Merger and Public Debut
In a transformative move, Serve Robotics recently completed a reverse merger with Patricia Acquisition Corp., a Delaware-based public corporation.
The merger resulted in Serve becoming a wholly owned subsidiary of Patricia, which subsequently rebranded as Serve Robotics, Inc. This strategic maneuver enhances Serve’s access to capital, enabling accelerated growth and amplifying its mission to bring sustainable, autonomous delivery to doorsteps worldwide.
Dr. Ali Kashani, Co-founder and CEO of Serve, expressed enthusiasm for the future and said, “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.”
With a remarkable 30 percent month-over-month growth in delivery volume, Serve aims to capitalize on burgeoning customer demand for autonomous last-mile solutions.
Deployment and Partnership Scaling
Bolstered by the newly secured funds, Serve Robotics is set to deploy up to 2,000 cutting-edge AI-powered sidewalk delivery robots as part of its collaboration with Uber Eats.
This expansion meets the surging demand for autonomous delivery and advances Serve’s pioneering efforts to create a more sustainable and efficient urban landscape.
Serve Robotics’ strategic funding, SPAC merger, and groundbreaking partnerships signal a transformative period for the autonomous delivery industry.
With its innovative approach, impressive growth trajectory, and unwavering commitment to sustainable mobility, Serve is redefining how goods are delivered, creating a future where sidewalk robots become integral to daily life.
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