Company: SERV
Filing Date: 2025-03-14
Form Type: 424B5
Source: 0001213900-25-024200
Chunk: 5

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-03-14
Form: 424B5
Chunk 5
---
 860-1352

S-iv

Prospectus Summary</div>

This summary highlights selected information contained elsewhere, or incorporated by reference, in this prospectus. This summary does not contain all of the information that you should consider before deciding to invest in our common stock. For a more complete understanding of our company and this offering, you should read and consider carefully the more detailed information included or incorporated by reference in this prospectus and the accompanying base prospectus, including the factors described under the heading “Risk Factors” on page S-3 of this prospectus and the documents incorporated by reference in this prospectus.

All references to “Serve” refer to Serve Operating Co. (formerly known as Serve Robotics Inc.), a Delaware corporation and our direct, wholly-owned subsidiary. Unless otherwise stated or the context otherwise indicates, references to the “Company,” “we,” “our,” “us” or similar terms refer to Serve Robotics Inc. (formerly named Patricia Acquisition Corp.) together with its wholly-owned subsidiary, Serve. Serve holds all material assets and conducts all business activities and operations of Serve Robotics Inc.

Overview

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