Uber Spins Off Robotics Division Of Postmates

(RTTNews) - The robotics division of Postmates, a delivery startup that ride-hailing firm Uber Technologies (UBER) bought last year, has spun out as as a new independent company called Serve Robotics.

Serve Robotics in a statement said that it closed its first round of funding, led by venture capital firm Neo with participation by Uber and other investors.

Other major investors include Uber, Lee Jacobs and Cyan Banister's Long Journey Ventures, Western Technology Investment, Scott Banister, Farhad Mohit, and Postmates co-founders Bastian Lehmann and Sean Plaice.

As an independent startup, the company will expand its market reach through new partnerships as it continues to design, develop, and operate delivery robots specialized in navigating sidewalks.

"While self-driving cars remove the driver, robotic delivery eliminates the car itself and makes deliveries sustainable and accessible to all," said Ali Kashani, co-founder and CEO of Serve Robotics.

Uber bought Postmates in July 2020 in a $2.65 billion all-stock deal, as the company expected the acquisition to complement its Uber Eats.