Uber Technologies sold its entire stake in Serve Robotics during the second quarter. The sidewalk delivery company originated within Postmates and spun out following Uber’s acquisition.
The partnership began when Serve became an independent company in 2021 with Uber as a key investor. Growing disagreements over robot deployment strategies and operating models prompted the divestiture.
Serve Robotics reported that delivery volumes from Uber recently reversed a long-term growth trend. Low robot utilization contributed to the declining volumes.
Serve Robotics does not expect to renew its partnership agreement with Uber when it expires in early 2027.