Serve Robotics (SERV) stock is gaining some traction on Wednesday. While shares of the food delivery innovator are up by nearly 400% over the past month, its stock price is still down by over 50% from its IPO in April. But, this may all change for the company after announcing a partnership with Shake Shack (SHAK) to have meals delivered by its robots via Uber Eats (UBER).
As part of Yahoo Finance’s Robotics Week: Investing in Tomorrow special, Serve Robotics Co-Founder and CEO Ali Kashani comes onto Market Domination to talk about the company’s expansion plans by deploying over 2,000 delivery robots across the US.
Currently, Serve Robotics has 100 of these automated couriers operating in Los Angeles, California.
They’re going to be in urban environments, New York included. I mean, look at what we are operating right now in in Hollywood area. We are in Hollywood Boulevard. Lots of tourism, lots of foot traffic, as well," Kashani emphasizes. "There is, you know, street furniture. There are people, there’s crime. Everything is there. Yet our robots complete deliveries at a higher rate than human couriers by a wide margin. We perform up to 99.94% of our deliveries. That’s significantly better than human couriers already."
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