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Uber, Nvidia-backed Serve Robotics hits public markets with $40M splash
Serve Robotics, the Uber and Nvidia-backed sidewalk robot delivery company, debuted publicly on the New York stock exchange Thursday, making it the latest
The company, which spun out of Uber’s acquisition of Postmates in 2021, hits the Nasdaq under the ticker “SERV” with gross proceeds of roughly $40 million — “prior to deducting underwriting discounts and offering expenses,” per regulatory filings — at a share price of $4. Currently, Serve handles 300 restaurants via the Uber Eats and 7-Eleven platform in LA, but has its eyes on Dallas, San Diego and Vancouver, Canada, according to CEO Ali Kashani. Serve also says it can tap the rapid progress in AI and robotics to help reduce reliance on cars, because who needs something as small as a burrito delivered in a sedan anyway?
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