Serve Robotics Raises $30M Financing
Summary
Uber Vice President of Delivery and Head of Americas, Sarfraz Maredia joined Serve’s board, effective July 31, 2023. The company intends to use the funds to support deployment of up to 2,000 new AI-powered sidewalk delivery robots, enter new markets across the United States and further advance its mobility platform. Founded in 2017 as the robotics division of Postmates, the company set out to build a robotic delivery experience for customers, and merchants, and reduces vehicle emissions to zero and spun off from Postmates as an independent company in February 2021. Its self-driving robots have completed tens of thousands of contactless deliveries in Los Angeles and San Francisco. Concurrent with the raise of new capital and conversion of existing convertible notes, Serve also completed a reverse merger with Patricia Acquisition Corp., a public Delaware corporation, whereby Serve became a wholly owned subsidiary of Patricia.