Skip to content
Search AI Powered
Human content, AI powered search.

Latest Stories

Sidewalk delivery robot maker Serve raises $40 million in stock sale

Spun off from Uber in 2021, firm performs deliveries for Uber Eats and 7-Eleven.

Serve 7-Eleven 03.jpeg
DC Velocity Staff
By DC Velocity StaffApr 23, 2024
DC Velocity Staff
See Full Bio

Serve Robotics Inc., which provides autonomous sidewalk delivery robots, has raised $40 million through a stock sale, the San Francisco startup said Monday.

The offering included the participation of one of Serve's largest stockholders and strategic partners, Postmates LLC, a wholly-owned subsidiary of Uber Technologies Inc. Following the deal, Serve's stock is now listed on the Nasdaq Capital Market under the symbol "SERV," which will replace its previous listing of "SBOT" on the OTCQB Venture Market. 

Serve plans to use the proceeds from the offering to fund research and development of the next generations of its robots, manufacturing activities, geographic expansion, and for working capital and other general corporate purposes.

Spun off from Uber in 2021 as an independent company, Serve today is backed by Uber and the chipmaker NVIDIA. The firm says its low-emissions sidewalk delivery robots have completed tens of thousands of deliveries for enterprise partners such as Uber Eats and 7-Eleven. The company also has agreed to deploy up to 2,000 delivery robots on the Uber Eats platform across multiple U.S. markets.
 

 

 

 

 

ArticleRoboticsEditorialMaterial Handling
serve
ArticleRoboticsEditorialMaterial Handling
serve

The Latest

wildfire areas in california
Disaster Response

California fires pose supply chain risks

chart of employment levels in transportation sectors
Labor

Unemployment rate stayed flat in December for transportation sector

frigo-trans truck hauling healthcare cargo
Parcel & Postal Carriers

UPS acquires two German healthcare logistics specialists

More Stories

screenshot of map of shipping risks

Overhaul lands $55 million backing for risk management tools

The supply chain risk management firm Overhaul has landed $55 million in backing, saying the financing will fuel its advancements in artificial intelligence and support its strategic acquisition roadmap.

The equity funding round comes from the private equity firm Springcoast Partners, with follow-on participation from existing investors Edison Partners and Americo. As part of the investment, Springcoast’s Chris Dederick and Holger Staude will join Overhaul’s board of directors.

Keep ReadingShow less

Featured

drawing of warehouse for digital twin
Simulation/VR/Digital Twin

Kion Group teams with Accenture and Nvidia to design intelligent warehouses

Jason Schenker
Supply Chain Strategy

Straight talk on supply chains and the economy: An interview with Jason Schenker

two women shopping and buying goods
Reverse Logistics

Study: Over 15% of all retail returns in 2024 were fraudulent

warehouse worker managing inventory
Reverse Logistics

DHL Supply Chain acquires returns specialist Inmar Supply Chain Solutions

person holding smartphone with freightcenter app for tracking shipments
Transportation 3PL

3PL BlueGrace Logistics acquires FreightCenter

photo of earth from space
Global Logistics

Maersk offers 5 steps to make your supply chain “antifragile”

Report: Five trends in AI and data science for 2025

Report: Five trends in AI and data science for 2025

Artificial intelligence (AI) and data science were hot business topics in 2024 and will remain on the front burner in 2025, according to recent research published in AI in Action, a series of technology-focused columns in the MIT Sloan Management Review.

In Five Trends in AI and Data Science for 2025, researchers Tom Davenport and Randy Bean outline ways in which AI and our data-driven culture will continue to shape the business landscape in the coming year. The information comes from a range of recent AI-focused research projects, including the 2025 AI & Data Leadership Executive Benchmark Survey, an annual survey of data, analytics, and AI executives conducted by Bean’s educational firm, Data & AI Leadership Exchange.

Keep ReadingShow less
aerial photo of port of miami

East and Gulf coast strike averted with 11th-hour agreement

Shippers today are praising an 11th-hour contract agreement that has averted the threat of a strike by dockworkers at East and Gulf coast ports that could have frozen container imports and exports as soon as January 16.

The agreement came late last night between the International Longshoremen’s Association (ILA) representing some 45,000 workers and the United States Maritime Alliance (USMX) that includes the operators of port facilities up and down the coast.

Keep ReadingShow less
Logistics industry growth slowed in December
Logistics Managers' Index

Logistics industry growth slowed in December

Logistics industry growth slowed in December due to a seasonal wind-down of inventory and following one of the busiest holiday shopping seasons on record, according to the latest Logistics Managers’ Index (LMI) report, released this week.

The monthly LMI was 57.3 in December, down more than a percentage point from November’s reading of 58.4. Despite the slowdown, economic activity across the industry continued to expand, as an LMI reading above 50 indicates growth and a reading below 50 indicates contraction.

Keep ReadingShow less
pie chart of business challenges

DHL: small businesses wary of uncertain times in 2025

As U.S. small and medium-sized enterprises (SMEs) face an uncertain business landscape in 2025, a substantial majority (67%) expect positive growth in the new year compared to 2024, according to a survey from DHL.

However, the survey also showed that businesses could face a rocky road to reach that goal, as they navigate a complex environment of regulatory/policy shifts and global market volatility. Both those issues were cited as top challenges by 36% of respondents, followed by staffing/talent retention (11%) and digital threats and cyber attacks (2%).

Keep ReadingShow less
Copyright ©2025.