Postmates Spins Out Robotics Division, Now Called Serve Robotics
March 2, 2021
Following Uber’s acquisition of Postmates, the robotics division of Postmates has been spun out to create an independent company, called Serve Robotics. The new company said it has closed its first round of funding, led by venture capital firm Neo, with participation by Uber and other investors. The spinout will continue to develop its autonomous robots to deliver goods in urban environments to provide contactless delivery options. Terms of the funding were not released.
Now that it is an independent company, Serve Robotics said it will expand its market reach through new partnerships as it continues to design, develop and operate delivery robots that specialize in navigating sidewalks.
“While self-driving cars remove the driver, robotic delivery eliminates the car itself and makes deliveries sustainable and accessible to all,” said Ali Kashani, co-founder and CEO of Serve Robotics. “Over the next two decades, new mobility robots will enter every aspect of our lives – first moving food, then everything else.”
Serve Robotics said nearly half of all restaurant deliveries in the U.S. are within a 40-minute walk, offering opportunities for robotic delivery to complete them faster, safer, and at a lower cost to consumers and restaurants. It said the food delivery app revenue market is expected to grow from $26.5 billion in 2020 to $42 billion in the next five years.
“We’re excited for the potential of Serve robots to help our restaurant partners grow their business and find new convenient, safe, and reliable ways to reach customers,” said Stephane Ficaja, the general manager of U.S. & Canada for Uber Eats.
Other major investors include Lee Jacobs and Cyan Banister’s Long Journey Ventures, Western Technology Investment, Scott Banister, Farhad Mohit, and Postmates co-founders Bastian Lehmann and Sean Plaice.