Mentioned:
Autonomous robots for deliveries are getting ready to go to the next level.
What’s happening:
- Delivery robotics company Serve Robotics (NASDAQ:SERV) has officially begun trading on the Nasdaq
- The new public listing for Serve comes after successfully completing a SPAC transaction with Patricia Acquisition Corp
By the numbers:
- Through their public listing, Serve Robotics has landed $40M USD in new funding
- Serve Robotics currently has 100 robots deployed in Los Angeles, California conducting autonomous deliveries
- Artificial intelligence chip maker Nvidia (NASDAQ: NVDA) owns a 14.3% ownership stake in Serve Robotics
Why it matters:
- Robotics for deliveries has been a rapidly growing trend from Wall Street to Silicon Valley, including the recent notable merger between Kiwi Robotics and Taiwan chip maker AUTO Mobility Solutions
The intrigue:
- Serve Robotics originally spun out Postmates after they were acquired by Uber (NASDAQ: UBER)
