Serve Robotics Expands with Diligent Robotics Acquisition

By Chris Stiles • Wednesday, January 21 10:45 • Permanent Link

Serve Robotics Inc. has just announced its acquisition of Diligent Robotics, Inc., a move that expands Serve's autonomous robotics platform beyond last-mile delivery and delivers non-organic revenue. The acquisition is expected to broaden Serve's market opportunity and leverage a common autonomy and AI stack.

Diligent Robotics has developed the Moxi robot, which is among the largest autonomous robot deployments in hospitals nationwide, completing over 1.25 million deliveries by nearly 100 robots in over 25 hospital facilities. The annual sales at each hospital are expected to range between $200k to $400k.

The acquisition is anticipated to further improve and scale the deployment of Moxi hospital robots, bringing service robots to support more clinicians across the country. It is also expected to accelerate Serve’s AI and autonomy flywheel, compressing deployment timelines and expanding where the platform can operate next.

The transaction overview indicates that the aggregate transaction will consist of shares of the company’s common stock with a value of $29.0 million paid to Diligent shareholders, subject to net debt and other adjustments, including a potential earn-out of up to $5.3 million upon the achievement of specified milestones. The completion of the transaction is subject to customary closing conditions.

Serve Robotics' CEO, Dr. Ali Kashani, has stated that this acquisition accelerates Serve’s evolution from a robotic delivery company into a full-stack autonomy platform, expanding where their physical AI can operate, learn, and create value. Diligent Robotics will continue its operations as a subsidiary of Serve under the leadership of Andrea Thomaz, the CEO of Diligent Robotics.

Serve Robotics develops advanced, AI-powered, low-emissions sidewalk delivery robots and has completed well over 100,000 deliveries for enterprise partners such as Uber Eats and 7-Eleven. Serve has scalable multi-year contracts, including a signed agreement to deploy up to 2,000 delivery robots across multiple U.S. markets.

The press release does not include comparative metrics from the previous period. The market has reacted to these announcements by moving the company's shares 1.75% to a price of $14.835. For more information, read the company's full 8-K submission here.

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