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Serve Robotics Secures Funding From Strategic Investors Uber, Delivery Hero-backed DX Ventures, 7-Eleven’s 7-Ventures, And Wavemaker Labs

New funding will help accelerate scaling of the company’s robotic platform, support geographic expansion, and drive continued product development

Serve Robotics, the leading autonomous sidewalk delivery company, announced the closing of a $13 million expanded seed funding round, with participation from strategic investors Uber Technologies, Inc. Delivery Hero (FRA: DHER) backed DX Ventures; 7-Eleven Inc.’s corporate venture arm, 7-Ventures, LLC; and Wavemaker Partners’ food automation focused venture studio Wavemaker Labs. The new round extends Serve’s previous seed funding and includes participation by existing seed investors Neo, Western Technology Investment, and Scott Banister among others. The capital will be used to accelerate the company’s path to commercial scale, driving its fleet expansion, geographic growth, and continued product development.

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Serve Robotics is shaping the future of sustainable, self-driving delivery. Founded in 2017 as the robotics division of Postmates, Serve is now an independent company on a mission to make delivery more affordable, sustainable and accessible for everyone. The company’s self-driving robots have completed tens of thousands of contactless deliveries in major U.S. cities.

“Serve Robotics is pleased to have the backing of strong strategic partners able to support our intention to provide sustainable, self-driving delivery at scale,” said Dr. Ali Kashani, Co-founder and CEO of Serve Robotics. “This initial round of financial and strategic support will allow us to continue advancing our technology, growing our team, and expanding our partnership platform.”

“Uber and Serve share a commitment to convenience and reliability,” said Sarfraz Maredia, Vice President and Head of Uber Eats in North America. “As a Serve investor, we’re excited to help shape self-driving delivery technology that can meet changing consumer and merchant needs.”

“Serve Robotics has brought self-driving delivery to major U.S. cities and is leading the field of robotics with its cutting-edge autonomous technology,” said Brendon Blacker, Partner at DX Ventures. “This game-changing technology has the potential to reshape the future of delivery and we are investing in Ali’s vision and the world-class team he has assembled.”

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“Our vision at 7-Eleven is to be the first choice for convenience – anytime, anywhere. We are redefining convenience by delivering innovative shopping solutions to our customers,” said Raghu Mahadevan, 7-Eleven SVP and Chief Digital Officer. “This collaboration will allow us to continue our 94-year legacy of innovation and expand our last mile delivery capabilities to make 7NOW more affordable, sustainable and accessible for everyone.”

“Serve Robotics has built a highly advanced, self-driving delivery robot that delivers safely and reliably for merchants,” said Buck Jordan, Founder and CEO at Wavemaker Labs. “We look forward to using autonomous delivery to elevate the customer experience and improve the unit economics of our food automation brands.”

PREDICTIONS-SERIES-2022

This new capital, combined with Serve’s recent success in major U.S. markets, further establishes Serve Robotics’ position as the leader in autonomous sidewalk delivery and is a milestone on the company’s path to national and global scale.

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[To share your insights with us, please write to sghosh@martechseries.com]

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