Shares of Serve Robotics (SERV) are gaining momentum on Wednesday. The food delivery innovator’s shares are now up nearly 400% over the past month, and the company has now announced a partnership with Shake Shack (SHAK) to use robots to deliver meals via Uber Eats (UBER).
As part of Yahoo Finance’s Robotics Week: Investing for Tomorrow feature, Serve Robotics co-founder and CEO Ali Kashani appears on Market Domination to discuss the company’s expansion plans to deploy more than 2,000 delivery robots across the United States.
Serve Robotics currently operates 100 autonomous couriers in Los Angeles, California.
The robots will be placed in urban environments, including New York City. I mean, think about what we do in the Hollywood area right now. We’re on Hollywood Boulevard. There’s a lot of tourism, there’s a lot of pedestrians,” Kashani emphasized. “There’s street furniture, there’s people, there’s crime, everything’s there. And yet, our robots are completing a much higher percentage of deliveries than human couriers. They’re doing 99.94% of deliveries, which is already way better than human couriers.”
For more expert insights and the latest market trends, click here to watch this entire episode of Market Domination.
Editor’s note: This post has been updated to correct an error regarding Serve Robotic’s IPO pricing. We apologize for the error.
This post was written by Luke Carberry Morgan