Robotics division of Uber’s Postmates spins out into new company

Robotics division of Uber’s Postmates spins out into new company

(Reuters) – The robotics unit of Postmates, a delivery startup that ride-hailing firm Uber Technologies acquired last year, has spun off into a new company called Serve Robotics, the company said on Tuesday.

Serve said in a press release that it closed its first round of funding, led by venture capital firm Neo, and aided by Uber, Long Journey ventures, Postmates’ co-founders Bastian Lehmann and Sean Plaice as well as other investors.

The unit, Postmates X, introduced its semi-autonomous bot, Serve, in 2018 to aid faster deliveries. It currently operates commercially in Los Angeles and San Francisco, and has been popular during the COVID-19 pandemic to enable the touch-less delivery of goods.

Uber bought Postmates in July 2020 in a $2.65 billion all-stock deal, with a view to expand its food delivery market share when the pandemic hit its core ride-sharing business.

(Reporting by Eva Mathews in Bengaluru; Editing by Amy Caren Daniel)

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