Uber, Nvidia backed delivery robot startup Serve Robotics to go public

Uber, Nvidia backed delivery robot startup Serve Robotics to go public

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2023-08-10 | 09:33

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Uber, Nvidia-backed delivery robot startup Serve Robotics to go public

Serve Robotics, the autonomous sidewalk delivery robot startup that spun out of Uber’s acquisition of Postmates, is going public via a reverse merger with a blank check company.

The reverse merger with Patricia Acquisition Corp was completed this month, according to regulatory filings. Ahead of the merger, Serve raised $30 million in a round led by existing investors Uber, Nvidia and Wavemaker Partners. New investors Mark Tompkins and Republic Deal Room also participated. The startup-soon-to-be-public-company has raised a total of $56 million.

Upon the closing of the merger, Uber held a 16.2 percent stake and Nvidia an 11 percent stake in Serve, according to regulatory filings. Sarfraz Maredia, Uber’s vice president of delivery and head of its Americas region, has joined Serve’s board.

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