Serve Robotics, spun from Uber’s $2.65 billion acquisition of Postmates last year, just closed a seed funding round for an undisclosed amount, according to a press release on Tuesday (March 2).
“While self-driving cars remove the driver, robotic delivery eliminates the car itself and makes deliveries sustainable and accessible to all,” said Dr. Ali Kashani, co-founder and CEO of Serve Robotics. “Over the next two decades, new mobility robots will enter every aspect of our lives — first moving food, then everything else.”
The seed funding round was led by venture capital firm Neo, with participation from Uber, Long Journey Ventures, Western Technology Investment, Scott Banister, Farhad Mohit, and Postmates co-founders Bastian Lehmann and Sean Plaice.
“We’re excited for the potential of Serve robots to help our restaurant partners grow their business and find new convenient, safe, and reliable ways to reach customers,” said Stephane Ficaja, General Manager of U.S. & Canada, Uber Eats.
Almost 50 percent of U.S. restaurant deliveries are within a 40-minute walking distance, which can be seamlessly handled by sidewalk robots and would save both consumers and restaurants money, according to the release.
Food delivery app revenue is anticipated to accelerate from $26.5 billion in 2020 to $42 billion in five years.
“Just as the automobile transformed our cities a century ago, another major transformation is beginning, with new mobility form factors being introduced over this decade,” said Ali Partovi, CEO of Neo.
The U.S. Department of Justice greenlighted Uber’s acquisition of Postmates in November. The tie-up gave Uber Eats about 37 percent of the market share, up from 29 percent. Soon after the deal closed, the rideshare and delivery behemoth cut 185 Postmates workers.
When Uber acquired Postmates at the end of last year, it announced that it was going to spin-off Postmates X, the robotics division. Serve Robotics was originally the temporary name, which was named after Postmates X’s delivery bot’s name, which was simply Serve.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More