- Delivery service now covers Koreatown, Los Angeles
- Expanded supply agreement signed to equip 2,000 robots with
upgraded lidar hardware to support scaling of robotic
fleet
SAN
FRANCISCO, June 27, 2024 /PRNewswire/ -- Serve
Robotics Inc. ("Serve") (Nasdaq: SERV), a leading autonomous
delivery robotics company, today announced the expansion of its
delivery operations into Koreatown as part of a long-term plan to
broaden its geographic reach in Los
Angeles and across the U.S. Additionally, in preparation for
the scale up of its fleet for future expansions, Serve announced
the expansion of its lidar supply agreement with Ouster, Inc.
("Ouster") to equip its next-generation robots with upgraded
sensors for enhanced performance.
Serving Koreatown
"Tens of thousands of households in Los Angeles have experienced the convenience
of autonomous delivery, with many hundreds of restaurants on Uber
Eats serving their customers in a more sustainable and reliable
way," said Serve co-founder and CEO, Dr. Ali Kashani. "We're excited to bring Serve to
more customers in Los Angeles and
beyond, as we scale our fleet and work to deploy up to 2,000 robots
in 2025."
In June, Serve began onboarding local merchants in partnership
with Uber Eats. Today, Koreatown residents ordering on Uber Eats
may have their orders fulfilled by a Serve delivery robot.
Serve selected Koreatown for its dense and vibrant commercial
hub, growing residential community, and robust sidewalk
infrastructure to support robotic delivery. Serve's coverage
expansion follows ongoing collaboration with Los Angeles city government and local
stakeholders.
Expanded Lidar Supply Agreement
As part of the expanded lidar supply agreement, Serve Robotics
will continue to outfit its fleet with digital lidar, using
Ouster's new REV7 sensors for optimal performance. Lidar plays a
critical role in Serve's autonomy stack, enabling its robots to
perceive their environment, identify their precise location, and
safely navigate alongside pedestrians and other sidewalk users.
Serve anticipates the new sensors will improve the safety, speed
and cost effectiveness of its fleet.
"Ouster's lidar has been integral to our success in
commercializing Level 4 autonomy at scale," said Serve Robotics'
Chief Hardware and Manufacturing Officer, Euan Abraham. "We've been impressed by the
reliability and performance of lidars over the past several years
and are excited to sign an extended agreement that provides us with
cutting-edge technology for our next-generation robot."
About Serve Robotics
Backed by Uber and NVIDIA, Serve Robotics develops advanced,
AI-powered, low-emissions sidewalk delivery robots that endeavor to
make delivery sustainable and economical. Spun off from Uber in
2021 as an independent company, Serve has completed tens of
thousands of deliveries for enterprise partners such as Uber Eats
and 7-Eleven. Serve has scalable multi-year contracts, including a
signed agreement to deploy up to 2,000 delivery robots on the Uber
Eats platform across multiple U.S. markets.
For further information about Serve Robotics (Nasdaq: SERV),
please visit www.serverobotics.com or follow us on social media via
X (Twitter), Instagram, or LinkedIn @serverobotics.
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Serve intends such forward-looking statements to be covered
by the safe harbor provisions for forward-looking statements
contained in Section 21E of the Exchange Act. These forward-looking
statements can be about future events, including statements
regarding Serve's intentions, objectives, plans, expectations,
assumptions and beliefs about future events, including Serve's
expectations with respect to the financial and operating
performance of its business, its capital position, and future
growth. The words "anticipate", "believe", "expect", "project",
"predict", "will", "forecast", "estimate", "likely", "intend",
"outlook", "should", "could", "may", "target", "plan" and other
similar expressions can generally be used to identify
forward-looking statements. Indications of, and guidance or outlook
on, future earnings or financial position or performance are also
forward-looking statements. Any forward-looking statements in this
press release are based on management's current expectations of
future events and are subject to a number of risks and
uncertainties that could cause actual results to differ materially
and adversely from those set forth in or implied by such
forward-looking statements. Risks that contribute to the uncertain
nature of the forward-looking statements include those risks and
uncertainties set forth in Serve's Annual Report on Form 10-K for
the year ended December 31, 2023,
filed with the United States Securities and Exchange Commission
(the "SEC") and in its subsequent filings filed with the SEC. All
forward-looking statements contained in this press release speak
only as of the date on which they were made. Serve undertakes no
obligation to update such statements to reflect events that occur
or circumstances that exist after the date on which they were
made.
Contacts
Aduke Thelwell
Head of Communications
Serve Robotics
aduke.thelwell@serverobotics.com
347.464.8510
CORE IR
investor.relations@serverobotics.com
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SOURCE Serve Robotics Inc.