Serve Robotics Inc. (SERV)
After hours:
- Yahoo Finance Video
Are robots the future of food delivery? Serve Robotics thinks so
Your next late-night pizza delivery may be handed to you by a different kind of delivery driver: a four-wheeled autonomous robot. Food delivery bots have already taken to the streets of Los Angeles, treading sidewalks for several years already as Serve Robotics (SERV) has partnered with online food giant Uber Eats (UBER) for local deliveries. Serve Robotics CEO Ali Kashani joins Yahoo Finance in-studio to show off Serve's delivery robots and discuss how the company's autonomous bots are changing the future of food delivery services. "The first thing to keep in mind is that by default these robots are allowed to operate anywhere, but 20-plus states have put reservations in favor to encourage to launch the robots there. And fundamentally, one robot has 3,000 times less kinetic energy than a vehicle. So regulators understand that this makes roads safer," Kashani explains. "Now, we know for a fact this is safer than a car doing the same thing, but it has the advantage of reducing congestion and C02s, and also bringing the costs down for the local businesses that right now are struggling with the costs of delivery." For more expert insight and the latest market action, click here to watch this full episode. This post was written by Melanie Riehl
- PR Newswire
Serve Robotics Enters Production Agreement with Magna to Scale Robot Manufacturing
Serve Robotics Inc. (the "Company" or "Serve") (NASDAQ:SERV), a leading autonomous sidewalk delivery company, today announced an expansion of their existing agreement with Magna International Inc. ("Magna") (TSX: MG; NYSE: MGA), one of the world's largest automotive suppliers, to accelerate the adoption of robotics in logistics. Under the terms of a new production and purchase agreement effective April 24, Magna will become the exclusive contract manufacturer of Serve's delivery robots, supporti
- PR Newswire
Serve Robotics Inc. Announces Closing of $40 Million Public Offering and Uplisting to the Nasdaq Capital Market Under New Ticker "SERV"
Serve Robotics Inc. (the "Company" or "Serve"), a leading autonomous sidewalk delivery company, today announced the closing of its underwritten public offering of 10,000,000 shares of common stock at a price to the public of $4.00 per share, for aggregate gross proceeds of $40 million, prior to deducting underwriting discounts and offering expenses. The offering included the participation of one of Serve's largest stockholders and strategic partners, Postmates, LLC, a wholly-owned subsidiary of
