Serve Robotics Q3: Revenue Growth and Delivery Surge
Serve Robotics just dropped their third quarter numbers, and they're showing real momentum in the world of sidewalk delivery bots. The San Francisco-based company, which spun out from Uber Eats back in 2021, specializes in autonomous robots that zip food and goods along city sidewalks. Think low-profile machines, about the size of a small cooler, navigating urban chaos without a driver.
On November 12, they reported $687,000 in revenue for the quarter, up from previous periods as they scale operations in places like Los Angeles and Dallas. Deliveries jumped 66% year-over-year, hitting over 4,000 trips. That's their fleet of Gen 3 robots in action, each one packing AI smarts to dodge pedestrians and curbs while hauling up to 50 pounds.
What's driving this? Partnerships with Uber Eats and 7-Eleven, plus a fresh $40 million funding round earlier this year to expand to 2,000 bots by 2025. CEO Ali Kashani says they're on track to hit profitability soon, proving these little sidewalk warriors can cut costs and emissions in last-mile delivery.
For robotics fans, it's a win: Serve's tech blends computer vision, machine learning, and sturdy hardware to make urban delivery greener and faster. As they eye more cities, expect these bots to become as common as bikeshares.