Innovative Startup Serve Robotics, Supported by Uber and Nvidia, Makes $40M Debut on Public Markets

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Serve Robotics, the Uber and Nvidia-backed sidewalk robot delivery company, debuted publicly on the New York stock exchange Thursday, making it the latest startup to choose going public via a reverse merger as an alternative path to capital needed to fund growth. While Serve’s debut in the public markets comes from a reverse merger and not a SPAC, the two alternate paths to IPO are not too dissimilar. However, Serve Robotics said it’s expecting enormous growth fueled by money generated by going public. “I never thought that I would start a robotics company and then be in the ads business,” said a tired, but excited, Kashani in a phone interview minutes before the bell rang. Upon the closing of the merger, Uber held a 16.6% stake and Nvidia an 14.3% stake in Serve, according to regulatory filings.