Serve Robotics (SERV) Cantor Fitzgerald Global Technology Conference summary

Product demonstration and technology overview

• Showcased third-generation autonomous delivery robot, Robin, featuring four-wheel steering, independent suspension, 360-degree LiDAR, and six cameras for level four autonomy on sidewalks in urban environments.

• 2,000 new robots planned for deployment in 2024, with manufacturing ramped up in partnership with Magna International.

• Robots operate primarily in Los Angeles and Miami, with expansion to Dallas and Atlanta in Q2 and more cities later in the year.

• Safety features include improved braking, pedestrian detection, and night visibility; LiDAR and cameras enhance redundancy and autonomy.

• Battery life supports 16 hours of operation, covering breakfast, lunch, and dinner delivery windows.

Industry landscape and competitive differentiation

• Focused on level four autonomy with a human-in-the-loop approach, differentiating from level five ambitions in the industry.

• Competitive edge from real-world operations, extensive data, and partnerships with Uber Eats, Delivery Hero, 7-Eleven, NVIDIA, and Magna.

• Most competitors operate in controlled environments; real-world deployment provides valuable edge-case data.

• Regulatory environment is favorable, with 24 states allowing sidewalk robots and proactive engagement with local authorities.

• Market for last-mile delivery, including food and parcels, estimated at $450 billion.

Business model, partnerships, and financials

• Integrated with Uber Eats for last-mile deliveries, serving over 1,000 merchants and doubling household reach recently.

• Not exclusive to Uber Eats; open to other platforms as economics improve.

• Targeting reduction of delivery cost from $8–$10 (human) to $1 per delivery through autonomy and scale.

• 2024 revenues increased 700% to $1.8 million; $200 million cash on hand, sufficient to fund robot deployment without equipment financing.

• Additional revenue streams include branding and marketing campaigns using robot fleets.