Serve Robotics

The Company

“Why move 2 lb burritos in 2 ton cars?”

Serve Robotics, founded in 2021 as a spin-off from Uber, specializes in autonomous sidewalk delivery robots. These AI powered robots are designed to enhance the efficiency and sustainability of last-mile deliveries by replacing the inefficient human delivery person in his car. The company has successfully completed tens of thousands of deliveries for high-profile partners such as Uber Eats and 7-Eleven, showcasing its innovative technology and market relevance.

Financials

Total Addressable Market (TAM)

Serve Robotics operates within the burgeoning service robotics market. This market is projected to reach $98.65 billion by 2029, growing at a compound annual growth rate (CAGR) of 15.9% from 2020 to 2029. This rapid expansion highlights the significant opportunities available for industry players.

Products and Revenue Breakdown

Serve Robotics offers autonomous sidewalk delivery robots focused on last-mile delivery services. In Q3 2024, the company reported $0.22 million in revenue, with approximately 18% stemming from software services and 82% from delivery operations. This breakdown reflects the company’s dual emphasis on hardware and software solutions.

Customers

Serve Robotics counts major industry players among its clientele, including Pizza Hut, Uber Eats, and Uber. These partnerships underscore the company’s ability to serve diverse market needs effectively.

Competitors

The autonomous delivery market is competitive, with several key players:

• Nuro: Focused on autonomous vehicle technology for local deliveries.
• Starship Technologies: Develops robots for food and package delivery.
• Kiwibot: Provides AI-powered delivery robots.
• Refraction AI: Specializes in autonomous last-mile logistics solutions.

Serve Robotics’ innovative approach and strategic partnerships position it as a strong contender in this rapidly growing sector.

Investors

• Uber ( Largest shareholder)

• NVIDIA

• Delivery Hero ( German food delivery platform in EU and Asia )

• 7-Eleven