If one robotics company turned the corner on 2024 with the most momentum, it would be Serve Robotics.
In the year that was, its delivery robots appeared on the streets of more and more cities, including Los Angeles and San Francisco, announced noteworthy partnerships, saw its stock rise, and made some eye-raising acquisitions.
And now it’s raised an eye-popping $86 million in December, bringing its total for the year to $167 million. The company says it now has enough resources to sustain operations through the end of next year.
Since the company was spun out of Uber in 2021, it has secured $220 million in funding. Serve points to its success in fund-raising as a proof point about its potential to transform last-mile delivery.
“This liquidity position reflects strong confidence in our vision,” said Brian Read, chief financial officer of Serve Robotics, in a statement. “We believe we are well-positioned to continue to scale our operations and enter new markets.”
So far, the startup has completed tens of thousands of deliveries for enterprise partners, such as Uber Eats and 7-Eleven.
