2 minute read | October.13.2025
Serve Robotics, a leading autonomous sidewalk delivery company, has entered into securities purchase agreements with certain institutional investors for the purchase and sale of 6.25 million shares of common stock.
The registered direct offering is expected to result in gross proceeds of approximately $100 million, before deducting placement agent fees and other offering expenses.
Orrick represented Serve Robotics.
Serve Robotics develops advanced, AI-powered, low-emissions sidewalk delivery robots that endeavor to make delivery sustainable and economical.
Spun off from Uber in 2021 as an independent company, Serve has completed over 100,000 deliveries for enterprise partners such as Uber Eats and 7-Eleven.
The company has scalable multi-year contracts to deploy up to 2,000 delivery robots across multiple U.S. markets.
Serve Robotics intends to use net proceeds from the offering for general corporate purposes, including working capital.
Orrick’s Albert Vanderlaan led the team that advised Serve Robotics. The team included Andrew Allen, Bailey Higgs and Anna Zimmerman.