Serve Robotics
Serve Robotics announced the closing of an $86M funding round, bringing its 2024 funding total to $167M.
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Serve Robotics
Serve Robotics announced the closing of an $86M funding round, bringing its 2024 funding total to $167M.
Serve Robotics, a San Francisco-based developer of autonomous delivery technology, announced that it raised gross proceeds of $86M in December 2024.
With the new funding, Serve Robotics secured $167 million in gross funding in 2024.
Since its spinout from Uber in 2021, Serve Robotics has secured approximately $220M in total funding.
With the funding, Serve will now be able to self-fund equipment investments, eliminating the near-term need for equipment financing and its associated servicing costs. By preserving balance sheet flexibility and optimizing its cost of capital with efficient, lower-cost funding offerings, the company said it is well-positioned to support strategic initiatives and invest in further advancing its last-mile delivery technology leadership.
“This liquidity position reflects strong confidence in our vision and market potential,” said Brian Read, chief financial officer of Serve Robotics. “Looking ahead, we believe we are well-positioned to continue to scale our operations and enter new markets in 2025 and beyond.”
Serve Robotics partnered with restaurant chain Shake Shack to autonomously deliver orders to customers in select California locations. The partnership, made in conjunction with Uber Eats, saw Serve robots delivering customer orders in September 2024.
Uber Eats has offered autonomous deliveries in certain regions from restaurants via Serve Robotics since 2022.
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