Skip to content
Search AI Powered
Human content, AI powered search.

Latest Stories

Sidewalk delivery robot maker Serve raises $40 million in stock sale

Spun off from Uber in 2021, firm performs deliveries for Uber Eats and 7-Eleven.

Serve 7-Eleven 03.jpeg
Supply Chain Xchange Staff
By Supply Chain Xchange StaffApr 23, 2024
Supply Chain Xchange Staff
See Full Bio

Serve Robotics Inc., which provides autonomous sidewalk delivery robots, has raised $40 million through a stock sale, the San Francisco startup said Monday.

The offering included the participation of one of Serve's largest stockholders and strategic partners, Postmates LLC, a wholly-owned subsidiary of Uber Technologies Inc. Following the deal, Serve's stock is now listed on the Nasdaq Capital Market under the symbol "SERV," which will replace its previous listing of "SBOT" on the OTCQB Venture Market. 

Serve plans to use the proceeds from the offering to fund research and development of the next generations of its robots, manufacturing activities, geographic expansion, and for working capital and other general corporate purposes.

Spun off from Uber in 2021 as an independent company, Serve today is backed by Uber and the chipmaker NVIDIA. The firm says its low-emissions sidewalk delivery robots have completed tens of thousands of deliveries for enterprise partners such as Uber Eats and 7-Eleven. The company also has agreed to deploy up to 2,000 delivery robots on the Uber Eats platform across multiple U.S. markets.
 

 

 

 

 

ArticleTech & InfrastructureE-CommerceTechnology
serve
ArticleTech & InfrastructureE-CommerceTechnology
serve

Recent

containers and ships at port
Move

AAFA urges ILA and USMX to resolve dockworker contract feud

More Stories

cover of report on electrical efficiency

ABI: Push to drop fossil fuels also needs better electric efficiency

Companies in every sector are converting assets from fossil fuel to electric power in their push to reach net-zero energy targets and to reduce costs along the way, but to truly accelerate those efforts, they also need to improve electric energy efficiency, according to a study from technology consulting firm ABI Research.

In fact, boosting that efficiency could contribute fully 25% of the emissions reductions needed to reach net zero. And the pursuit of that goal will drive aggregated global investments in energy efficiency technologies to grow from $106 Billion in 2024 to $153 Billion in 2030, ABI said today in a report titled “The Role of Energy Efficiency in Reaching Net Zero Targets for Enterprises and Industries.”

Keep ReadingShow less

Featured

GenAI procurement tool screenshot
Procure

Dun & Bradstreet and IBM launch GenAI procurement tool

Plan

Starbucks adds risk management program to help protect its supply chain

An illustration of five trucks connected by lines and hubs to give the appearance of a network.
Blog

How an advanced TMS optimizes supply chain performance

ASTM A53 Steel Pipe Specifications
Products

ASTM A53 Steel Pipe Specifications

Logistics economy continues on solid footing
Logistics Managers' Index

Logistics economy continues on solid footing

Economic activity in the logistics industry expanded in November, continuing a steady growth pattern that began earlier this year and signaling a return to seasonality after several years of fluctuating conditions, according to the latest Logistics Managers’ Index report (LMI), released today.

The November LMI registered 58.4, down slightly from October’s reading of 58.9, which was the highest level in two years. The LMI is a monthly gauge of business conditions across warehousing and logistics markets; a reading above 50 indicates growth and a reading below 50 indicates contraction.

Keep ReadingShow less
iceberg drawing to represent threats

GEP: six factors could change calm to storm in 2025

The current year is ending on a calm note for the logistics sector, but 2025 is on pace to be an era of rapid transformation, due to six driving forces that will shape procurement and supply chains in coming months, according to a forecast from New Jersey-based supply chain software provider GEP.

"After several years of mitigating inflation, disruption, supply shocks, conflicts, and uncertainty, we are currently in a relative period of calm," John Paitek, vice president, GEP, said in a release. "But it is very much the calm before the coming storm. This report provides procurement and supply chain leaders with a prescriptive guide to weathering the gale force headwinds of protectionism, tariffs, trade wars, regulatory pressures, uncertainty, and the AI revolution that we will face in 2025."

Keep ReadingShow less
chart of top business concerns from descartes

Descartes: businesses say top concern is tariff hikes

Business leaders at companies of every size say that rising tariffs and trade barriers are the most significant global trade challenge facing logistics and supply chain leaders today, according to a survey from supply chain software provider Descartes.

Specifically, 48% of respondents identified rising tariffs and trade barriers as their top concern, followed by supply chain disruptions at 45% and geopolitical instability at 41%. Moreover, tariffs and trade barriers ranked as the priority issue regardless of company size, as respondents at companies with less than 250 employees, 251-500, 501-1,000, 1,001-50,000 and 50,000+ employees all cited it as the most significant issue they are currently facing.

Keep ReadingShow less
photo of worker at port tracking containers

Trump tariff threat strains logistics businesses

Freight transportation providers and maritime port operators are bracing for rough business impacts if the incoming Trump Administration follows through on its pledge to impose a 25% tariff on Mexico and Canada and an additional 10% tariff on China, analysts say.

Industry contacts say they fear that such heavy fees could prompt importers to “pull forward” a massive surge of goods before the new administration is seated on January 20, and then quickly cut back again once the hefty new fees are instituted, according to a report from TD Cowen.

Keep ReadingShow less
Copyright ©2024.