Company: SERV
Filing Date: 2025-03-06
Form Type: POS AM
Source: 0001213900-25-021238
Chunk: 10

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-03-06
Form: POS AM
Chunk 10
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 believe to be the most important aspects of our business and the offering of our securities under this prospectus. We urge you to read this entire prospectus, including the more detailed consolidated financial statements, notes to the consolidated financial statements and other information incorporated by reference from our other filings with the SEC. Investing in our securities involves risks. Therefore, carefully consider the risk factors set forth in this prospectus and in our most recent annual and quarterly filings with the SEC, as well as other information in this prospectus and the documents incorporated by reference herein.

About Serve Robotics Inc.

We are shaping the future of sustainable, self-driving delivery. We
design, develop and operate low-emissions robots on our AI-powered robotics mobility platform, that serve people in public spaces, starting
with food delivery. Starting in 2017, our core technology was developed by our co-founders and a majority of our product and engineering
team in San Francisco, California as a special project within Postmates Inc. (“Postmates”), one of the pioneering food delivery
startups in the United States. By the end of 2020, the team had developed a fleet of sidewalk robots that had successfully performed over
10,000 commercial deliveries for Postmates in California, augmenting Postmates’ fleet of human couriers. Postmates was acquired
by Uber Technologies, Inc. (“Uber”) in 2020, and in February of 2021, Uber’s leadership team agreed to contribute the
intellectual property developed by the team and assets relating to this project. In return for this contribution and an investment of
cash into the Company, Uber acquired a minority equity interest in our business.

As of December 31, 2024, Serve’s fleet consisted of over 100
robots. We plan to deploy 2,000 robots by the end of 2025. We have platform-level integrations with Uber Eats, which means Serve robots
can provide real-time presence and status updates on those platforms and receive requests to perform deliveries with respect to customer
orders placed on those platforms as needed.

Because Serve started within a food delivery company, our team comes
with a depth of expertise in food delivery. Additionally, the engineering team has extensive experience in AI, automation and robotics.
Our leadership team includes veterans from Uber, Instacart, Postmates, Waymo, Apple Inc., Blue Origin, LLC, GoPro, Inc., GoDaddy Inc.,
and Anki, Inc. We believe our expertise positions us to service the ever-growing on-demand