Uber, Nvidia-backed Serve Robotics hits public markets with $40M splash

Uber, Nvidia-backed Serve Robotics hits public markets with $40M splash

a week ago
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https://techcrunch.com/2024/04/18/uber-nvidia-backed-serve-robotics-hits-public-markets-with-40m-splash/

Serve Robotics, the Uber and Nvidia-backed sidewalk robot delivery company, debuted publicly on the New York stock exchange Thursday, making it the latest startup to choose going public via a reverse merger as an alternative path to capital needed to fund growth.

The company, which spun out of Uber’s acquisition of Postmates in 2021, hits the Nasdaq under the ticker “SERV” with gross proceeds of roughly $40 million — “prior to deducting underwriting discounts and offering expenses,” per regulatory filings — at a share price of $4.