Uber, Nvidia-Backed Robot Delivery Service to Go Public

Serve Robotics, an autonomous robot delivery startup backed by the likes of Uber and Nvidia, is going public.

According to regulatory filings, the company is going public via a reverse merger with Patricia Acquisition Corp.

The announcement follows Serve’s raising of $30 million in a funding round led by Uber, Nvidia and Wavemaker, bringing the company’s total funding raised to $56 million.

The funds will be used to advance Serve’s mobility technology, support its plans to enter new markets across the U.S. and help scale its delivery robot fleet. The company also said it will focus on fulfilling its agreement with Uber Eats to deploy 2,000 robots across the U.S.

"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," said Ali Kashani, Serve’s CEO. "Serve's 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."

According to Serve, its roaming robots reduce traffic congestion and air pollution, while also alleviating pressures on food delivery services from ongoing labor shortages. Serve also said its robots achieve Level 4 autonomy, meaning the robots can complete all aspects of driving without human operation.