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Serve Robotics Partners with Uber to Expand Autonomous Delivery
Serve Robotics has announced a partnership with Uber Technologies to deploy 2,000 of its Gen3 delivery robots across the Uber Eats network by the end of 2025. Currently valued at $650 million, Serve Robotics aims to capitalize on the estimated $450 billion market for last-mile logistics services, which it believes is becoming increasingly viable due to advancements in robotics and AI.
Since beginning operations in 2022, Serve’s robots have completed over 100,000 deliveries for 3,600 restaurants across five U.S. cities. Notably, the company reported revenue of $687,000 in Q3, falling short of its $30.4 million operating costs, resulting in a net loss of $33.2 million for the quarter. However, Serve projects a revenue increase to $25 million in 2026 once fully operational in the Uber Eats network.
While Wall Street analysts are optimistic about Serve Robotics, with a majority rating the stock as a buy and a potential price increase of up to 200% in the next 12 to 18 months, concerns remain regarding the company’s current valuation. The stock is trading at a price-to-sales ratio of 245, reflecting skepticism about its ability to scale successfully.
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