Total amount raised
$294 Million
Latest funding date
1/1/2025
Location
Serve Robotics has successfully navigated 13 funding rounds, securing investments from 27 different investors, including notable names like Postmates and Good AI Capital. The company has also made strategic acquisitions, such as the recent purchase of Voysys, to bolster its technological capabilities.
Keep reading to explore the intricacies of Serve Robotics' fundraising journey and the investors backing this innovative platform.
What Is Serve Robotics?
Serve Robotics is an autonomous robotic delivery company based in Los Angeles, California. The company operates within the industries of Artificial Intelligence, Food Delivery, Logistics, and Robotics, and is publicly traded under the ticker NASDAQ:SERV.
Founded with a vision to provide low-emission, last-mile delivery solutions, Serve Robotics has grown to employ between 101-250 people. Their AI-powered sidewalk delivery robots are designed to integrate seamlessly with pedestrian traffic, ensuring reliable and efficient delivery services.
How Much Funding Has Serve Robotics Raised?
- Round Name: Seed
- Amount Raised: Not publicly disclosed
- Date: December 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop initial prototypes of their delivery robots.
- Round Name: Corporate Round
- Amount Raised: USD 10,000,000
- Date: March 2022
- Lead Investors: NVIDIA
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance AI capabilities and integrate NVIDIA's technology into their robots.
- Round Name: Series Unknown
- Amount Raised: USD 30,000,000
- Date: August 2023
- Lead Investors: NVIDIA, Uber, Wavemaker Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To deploy up to 2,000 new AI-powered sidewalk delivery robots and expand into new markets across the United States.
- Round Name: Post-IPO Equity
- Amount Raised: USD 40,000,000
- Date: April 2024
- Lead Investors: Postmates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the fleet of delivery robots.
- Round Name: Post-IPO Equity
- Amount Raised: USD 15,000,000
- Date: July 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing technological advancements and market expansion.
- Round Name: Post-IPO Secondary
- Amount Raised: Not publicly disclosed
- Date: August 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Round Name: Post-IPO Equity
- Amount Raised: USD 20,000,000
- Date: August 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the company's market presence and technological capabilities.
- Round Name: Post-IPO Equity
- Amount Raised: USD 86,000,000
- Date: December 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance the delivery robot fleet.
- Round Name: Post-IPO Equity
- Amount Raised: USD 80,000,000
- Date: January 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's expansion and technological innovation.
- Round Name: Post-IPO Equity
- Amount Raised: USD 100,000,000
- Date: October 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance the company's technological infrastructure.
Serve Robotics has raised a total of USD 381,000,000. The current valuation is Not publicly disclosed.
Key Investors
- Postmates
- Details: Postmates is a well-known delivery service company that was founded in 2011. It offers on-demand delivery services for food, groceries, and other goods.
- Investment Focus Areas: Delivery services, logistics, technology
- Notable Investments: Serve Robotics, Fleet, Starship Technologies
- Uber Technologies
- Details: Uber Technologies is a global ride-hailing and food delivery service provider. Founded in 2009, Uber has expanded its services to include autonomous vehicles and logistics.
- Investment Focus Areas: Ride-hailing, food delivery, autonomous vehicles, logistics
- Notable Investments: Uber Eats, Aurora Innovation, Lime
- NVIDIA
- Details: NVIDIA is a technology company known for its graphics processing units (GPUs) and AI computing. Founded in 1993, it has become a leader in AI and high-performance computing.
- Investment Focus Areas: GPUs, AI, autonomous vehicles, high-performance computing
- Notable Investments: Arm Holdings, Mellanox Technologies, DeepMap
- Wavemaker Partners
- Details: Wavemaker Partners is a venture capital firm that invests in early-stage technology companies. It has a strong presence in the United States and Southeast Asia.
- Investment Focus Areas: Early-stage technology, enterprise software, digital media
- Notable Investments: Mindbody, StyleHaul, Moka
- Good AI Capital
- Details: Good AI Capital is a venture capital firm focusing on AI technologies. It aims to support companies that leverage AI to solve complex problems.
- Investment Focus Areas: Artificial Intelligence, machine learning, data analytics
- Notable Investments: Serve Robotics, AI-driven startups
What's Next for Serve Robotics?
Serve Robotics is poised for significant growth as it plans to deploy up to 2,000 new AI-powered sidewalk delivery robots and expand into new markets across the United States. This expansion is backed by a recent $30 million funding round, bringing their total raised to $56 million. The company aims to advance its AI-powered mobility platform, leveraging strategic partnerships with major players like Uber and NVIDIA.
Future fundraising opportunities appear promising, especially with Serve Robotics now being a publicly traded company. This status provides broader access to capital, which can support continued growth and potential future rounds. However, the company may face challenges such as regulatory hurdles, competition from other robotics firms, and the operational complexities of scaling up its robotic fleet.
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