Serve Robotics raises $100M to scale autonomous delivery robot fleet

Serve Robotics has secured $100 million through a registered direct offering, selling 6.25 million shares to institutional investors at $16 per share. The autonomous sidewalk delivery company plans to use the funds for general corporate purposes and working capital as it scales its AI-powered robot fleet across multiple U.S. markets.

What you should know: The offering represents significant institutional confidence in Serve’s autonomous delivery technology and market position.

• Northland Capital Markets served as the sole placement agent, with Oppenheimer & Co. and Wedbush Securities acting as capital markets advisors.
• The transaction is expected to close on October 14, 2025, subject to standard closing conditions.
• Proceeds will support general corporate purposes, including working capital needs.

The big picture: Serve Robotics has established itself as a leader in last-mile autonomous delivery, spinning off from Uber in 2021 to become an independent company.

• The company has completed over 100,000 deliveries for enterprise partners including Uber Eats and 7-Eleven.
• Serve holds scalable multi-year contracts to deploy up to 2,000 delivery robots across multiple U.S. markets.
• Their AI-powered sidewalk robots focus on making delivery both sustainable and economical.

Key details: The offering utilizes Serve’s existing shelf registration statement filed with the SEC earlier this year.

• The shares are being sold under an effective Form S-3 registration statement that was declared effective by the SEC on March 14, 2025.
• A final prospectus supplement will be filed with the SEC and made available on the agency’s website.
• Electronic copies will also be available through Northland Securities when the offering is complete.

Why this matters: The capital raise positions Serve to accelerate deployment of its autonomous delivery infrastructure at a time when demand for last-mile delivery solutions continues growing.

• The company’s proven track record with major enterprise clients demonstrates commercial viability of sidewalk delivery robots.
• Multi-year deployment contracts provide revenue visibility and scaling opportunities across expanding geographic markets.
• The funding supports Serve’s mission to transform urban delivery through AI-powered automation.