Serve Robotics Expands with $86M Funding
Serve Robotics Inc., a leader in autonomous last-mile delivery, has raised $86 million in fresh funding, boosting its total 2024 proceeds to $167 million. This funding positions the Redwood City, Calif.-based company to scale its operations through 2026 and explore new markets in 2025.
Brian Read, CFO of Serve Robotics, remarked, “This funding reflects strong confidence in our vision and potential, enabling us to expand strategically while continuing to innovate.”
Serve Robotics: Scaling Autonomous Delivery with Advanced Technology
Since spinning off from Uber Technologies Inc. in 2021, Serve Robotics has raised a cumulative $220 million, securing partnerships with industry leaders like Uber Eats and 7-Eleven. The company is also collaborating with Alphabet’s Wing Aviation on hybrid drone-and-robot delivery systems.
Serve Robotics’ third-generation delivery robots, unveiled in October 2024, offer cutting-edge advancements:
- Faster and Longer Performance: Doubling travel speed and range with six additional hours of daily operation.
- Increased Capacity: Holding 15% more volume than earlier models, perfect for larger delivery orders.
- Enhanced AI and Sensors: Powered by NVIDIA Jetson Orin modules and Ouster’s REV7 lidar for superior navigation and obstacle detection.
- Durability Upgrades: Improved water resistance, suspension, and emergency braking.
These robots represent a leap forward in cost-efficiency and safety, allowing Serve to better meet the growing demand for sustainable delivery solutions.
Preparing for New Markets and Mass Adoption
Serve Robotics has ambitious plans to deploy up to 2,000 robots on the Uber Eats platform and roll out deliveries in new U.S. cities starting in 2025. According to ABI Research, shipments of delivery robots are expected to grow from 14,000 in 2023 to 147,000 by 2030, indicating significant potential for market expansion.
Euan Abraham, Serve’s Chief Hardware and Manufacturing Officer, stated, “Our robots are built to revolutionize urban deliveries, and we’re excited to introduce them to more communities soon.”
Serve’s long-term vision includes leveraging its strong balance sheet to fund equipment investments and advance its position as a technology leader in the robotics industry.
Leadership and Future Growth
Serve Robotics continues to strengthen its leadership, recently appointing Lily Sarafan, a veteran in entrepreneurship and governance, to its board. This strategic move aligns with its mission to redefine last-mile delivery through cutting-edge AI and sustainable practices.
With its innovative robots and strong financial backing, Serve Robotics is poised to lead the transformation of last-mile delivery, paving the way for efficient, AI-driven logistics in cities worldwide.
