Serve Robotics is attempting to revolutionize the food delivery business with autonomous sidewalk delivery robots. The company has been raising funding from investors in order to fuel its growth ambitions, including $100 million through a registered direct offering.

Created in 2021 after being spun off from Uber, Serve Robotics has rapidly scaled its deployment of sidewalk delivery robots. As of December 2025, Serve Robotics has more than 2,000 robots performing deliveries across the United States. The delivery robots are currently operating in a number of major U.S. cities such as Miami, Los Angeles, Atlanta, Dallas, Chicago. The company plans to launch into a number of additional cities in 2026.

“The market opportunity for autonomous and electric sidewalk robot delivery is huge and right now, we’re only seeing the tip of the iceberg,” stated co-founder and CEO Ali Kashani. “Groceries, convenience, small parcels, and return logistics are all a natural fit. Anywhere you find frequent, short-distance deliveries, autonomous technology can create real value.”

In October 2025, Serve Robotics completed a $100 million registered direct offering. The company sold approximately 6 million shares of common stock to investors at a price of $16 per share. Northland Capital Markets, an investment bank based in the midwestern United States,served as the sole placement agent in the registered direct offering. The placement agent’s main role is to identify investors to purchase the company’s securities in the offering.

A registered direct offering is a method of raising capital that involves selling securities to investors on a “best efforts” basis. The offering is typically marked to a select group of institutional and accredited investors, although securities can also be sold to retail investors. The sale of securities is made pursuant to a company’s effective shelf registration statement. A shelf registration statement is filed on a Form S-3 with the Securities and Exchange Commission and enables public companies to register multiple classes of securities for sale on a future date. This provides companies with the flexibility to quickly sell securities to investors in the future when market conditions are favorable.

There are a number of benefits to companies raising capital through a registered direct offering. A registered direct offering has features of both a public offering and private placement. Similar to a private placement, it is often only marketed to a small group of sophisticated investors on a confidential basis. This confidential marketing process is less disruptive to the company’s stock price compared with a typical public offering. Similar to a public offering, investors in a registered direct offering will receive a prospectus supplement that provides details about the company and the securities offering. Since the securities that are being offered are registered under U.S. securities laws, the securities may eventually be resold by investors free of restrictions.

Serve Robotics is focused on continuing to expand its fleet of robots and on advancing its AI technology capabilities. Since 2022, the company has experienced more than 40% quarter-over-quarter growth in delivery volume. The company is also focused on prioritizing public safety, with its robots programmed to only travel at walking speed and able to detect and avoid collisions with pedestrians and objects.