Serve Robotics Inc. Announces $30M Financing to Support Scaling of Robotic Delivery

Serve Robotics, Inc., a US autonomous sidewalk delivery company, has raised $30 million in financing, bringing the company's total funds raised to over $56 million. The financing was led by existing investors, including Uber and NVIDIA.

The financing will enable Serve to enter new markets across the United States and further advance its industry-leading, AI-powered mobility platform.

It will also begin scaling up its robotic fleet to meet massive and rapidly-increasing customer demand for last mile automation, including fulfilling its commercial agreement to deploy up to 2,000 robots with Uber Eats.

Serve has also completed a reverse merger with Patricia Acquisition Corp., a public Delaware corporation, whereby Serve has become a wholly owned subsidiary of Patricia.

Following the transaction, Patricia has changed its name to Serve Robotics, Inc.

Dr. Ali Kashani, Co-founder and CEO of Serve, says: "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. 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."

Serve's self-driving robots have successfully completed tens of thousands of contactless deliveries in Los Angeles and San Francisco.