Serve Robotics Stock Price, News & Analysis

Serve Robotics Inc. (Nasdaq: SERV) has unveiled its third-generation autonomous delivery robot, designed for national scaling. The new model offers enhanced capabilities at reduced manufacturing costs, with 2,000 units set for deployment in 2025 on the Uber Eats platform across multiple U.S. markets.

Key improvements include:

• Doubled speed and travel distance on a single charge
• 6 more hours of field operation daily
• 5x more on-board computing power
• 15% larger cargo capacity
• Enhanced weather resistance and smoother ride
• 40% quicker emergency braking

These advancements support Serve's commitment to safety and efficiency in sidewalk delivery. The company plans to deploy the new robots in Los Angeles and a new metro market in the coming months.

Serve Robotics (Nasdaq: SERV) and Wing Aviation have announced a pilot partnership to expand autonomous food delivery. The collaboration combines Serve's sidewalk robots with Wing's drones to offer a novel solution for last-mile delivery. Serve robots will pick up orders from restaurants and deliver them to Wing drone AutoLoaders, enabling deliveries up to 6 miles away.

This robot-to-drone system allows merchants to access drone delivery without facility changes and extends the delivery radius for sidewalk robots. The partnership aims to make automated delivery the preferred mode for small package deliveries. Benefits include faster deliveries, cost efficiency, environmental consciousness, improved safety, and convenience for merchants. The pilot program is set to launch in the coming months, potentially revolutionizing the food delivery industry.

Serve Robotics (Nasdaq: SERV), a leader in autonomous sidewalk delivery, has announced its participation in the H.C. Wainwright's Annual Global Investment Conference. The company's management will deliver a presentation and participate in a fireside chat interview on Monday, September 9, 2024, from 10:00 a.m. to 10:30 a.m. Eastern Time in New York, NY.

Investors and interested parties can access the live presentation through Serve Robotics' IR website. A webcast replay will be available for 90 days following the event, providing an opportunity for those unable to attend live to catch up on the company's latest developments and strategies.

Serve Robotics Inc. (NASDAQ:SERV) has successfully completed a $20.0 million private placement and warrant exercise, with Aegis Capital Corp. acting as the exclusive placement agent. This financial transaction, which took place on August 29, 2024, represents a significant capital injection for the robotics company. Private placements are typically used by companies to raise capital from a select group of investors, often at favorable terms. The inclusion of a warrant exercise component suggests that existing warrant holders have chosen to convert their warrants into shares, potentially indicating confidence in the company's prospects. This fundraising event could provide Serve Robotics with additional resources to fuel growth, research and development, or other strategic initiatives in the competitive robotics sector.

Serve Robotics Inc. (Nasdaq: SERV), a leading autonomous sidewalk delivery company, has closed a $20 million private placement and warrant exercise. The transaction includes:

1. A private placement with an institutional investor for pre-funded warrants to purchase 555,555 shares at $9.00 each, along with warrants to purchase 555,555 shares at $10.00 each.

2. Exercise of existing warrants by an institutional investor to purchase 2,500,000 shares at $6.00 each, generating $15 million in gross proceeds. In return, the investor received new warrants to purchase 2,200,000 shares at $10.00 each.

The warrants have a 5.5-year expiration. Aegis Capital Corp. acted as the exclusive placement agent. The securities were sold in a private placement exempt from SEC registration requirements.

Serve Robotics Inc. (Nasdaq: SERV), a leading autonomous sidewalk delivery company, has announced a private placement and warrant exercise expected to generate $20 million in gross proceeds. The transaction includes:

1. A private placement of pre-funded warrants for 555,555 shares and warrants for 555,555 shares at $10 per share, sold at $9 each.

2. Exercise of existing warrants for 2,500,000 shares at $6 per share, with new warrants for 2,200,000 shares at $10 per share issued as consideration.

The deal is set to close on August 28, 2024, subject to conditions. Aegis Capital Corp. is the exclusive placement agent. The securities are being sold in a private placement exempt from SEC registration requirements.

Serve Robotics (NASDAQ: SERV) and Shake Shack (NYSE: SHAK) have partnered to offer autonomous robot delivery via Uber Eats in select Los Angeles areas. This collaboration marks Serve's progress towards deploying 2,000 AI-powered sidewalk delivery robots on the Uber platform by 2025. Serve's robots, which have been operating on Uber Eats since 2022, offer quick, convenient, and contactless delivery with advanced features including:

• Efficient route planning
• Secure food transit
• Cost-effective operations
• Safe navigation using GPS and AI
• Eco-friendly, all-electric design

This partnership aims to enhance guest experiences and expand Serve's geographic footprint while providing an innovative, affordable, and reliable delivery option for customers.

Serve Robotics Inc. (NASDAQ: SERV) reported strong Q2 2024 results, highlighting 106% year-over-year growth in daily supply hours and 85% increase in daily active robots. The company raised $40 million through a public offering and an additional $15 million in a post-quarter private placement. Serve expanded operations into Koreatown, Los Angeles, and commenced manufacturing activities for its 2,000-robot fleet following agreements with Magna and Ouster. Q2 revenue was $0.47 million, including $0.30 million from software services. The company aims to deploy 250 additional robots in Los Angeles by Q1 2025, with plans to reach full deployment of 2,000 robots under the Uber Eats agreement, potentially generating $60-$80 million in annual run-rate revenue.

Serve Robotics (Nasdaq: SERV), a leading autonomous sidewalk delivery company, has announced its participation in the upcoming Sidoti Micro Cap Conference on August 14th, 2024. The company's management will deliver a presentation and participate in a fireside chat interview during the virtual event.

Key details of the presentation include:

• Date: Wednesday, August 14th, 2024
• Time: 9:15 a.m. - 9:45 a.m. Pacific Time
• Location: Virtual event

The presentation will be streamed live on Serve Robotics' IR website, with a webcast replay available for 90 days following the event. This participation provides an opportunity for investors to gain insights into the company's operations and future prospects in the autonomous delivery sector.