Following Uber's acquisition of Postmates, the robotics division of Postmates has spun out as an independent company, now called Serve Robotics. Serve Robotics closed its first round of funding, led by venture capital firm Neo with participation by Uber and other investors.
Serve Robotics will continue spearheading the development of a new form of mobility by creating autonomous robots to deliver goods in urban environments. Its fleet has already proven its viability by serving thousands of households in Los Angeles and has been especially useful during the pandemic by providing customers with contactless delivery.
As an independent startup, the company will expand its market reach through new partnerships as it continues to design, develop, and operate delivery robots specialized in navigating sidewalks.
Nearly half of all restaurant deliveries in the US are within a 40-minute walk, offering a tremendous opportunity for robotic delivery to complete them faster, safer, and at a lower cost to consumers and restaurants. Food delivery is a growing industry, fueled by the global pandemic, with just the US food delivery app revenue expected to grow from $26.5B in 2020 to $42B in five years.