Serve Robotics Inc. has completed an IPO in the amount of $40 million.

Serve Robotics, Inc. is engaged in developing next generation robots for last-mile delivery services. The Company offers an autonomous all-electric robot that makes delivery sustainable and economical. The Company’s fleet consists of over 100 robots. Its autonomous all-electric robot can provide real-time presence and status updates on those platforms and receive requests to perform deliveries with respect to customer orders placed on those platforms as needed. It uses artificial intelligence methodologies to design, train and deploy a host of models on robots to perform a variety of tasks, including identification of sidewalk surfaces, intersections, traffic signals, obstacles, pedestrians, and vehicles, and projecting the trajectory of other dynamic agents. Its capabilities include automatic emergency braking, vehicle collision avoidance, and fail-safe mechanical braking. The robots consist of a number of key systems, such as drivetrain, power system, and connectivity.