Serve Robotics and Shake Shack Roll Out Autonomous Robot Delivery Via Uber Eats

Rhea-AI Summary

Serve Robotics (NASDAQ: SERV) and Shake Shack (NYSE: SHAK) have partnered to offer autonomous robot delivery via Uber Eats in select Los Angeles areas. This collaboration marks Serve's progress towards deploying 2,000 AI-powered sidewalk delivery robots on the Uber platform by 2025. Serve's robots, which have been operating on Uber Eats since 2022, offer quick, convenient, and contactless delivery with advanced features including:

• Efficient route planning
• Secure food transit
• Cost-effective operations
• Safe navigation using GPS and AI
• Eco-friendly, all-electric design

This partnership aims to enhance guest experiences and expand Serve's geographic footprint while providing an innovative, affordable, and reliable delivery option for customers.

Positive

• Partnership with Shake Shack expands Serve Robotics' presence on Uber Eats platform
• Progress towards deploying 2,000 robots across the U.S. in 2025
• Potential for future expansion across the U.S.
• Cost-effective delivery solution that increases efficiency and lowers costs
• Eco-friendly delivery method that reduces carbon footprint

Negative

• initial rollout to select Shake Shack restaurants in Los Angeles area

Insights

Tech Expert

This partnership marks a significant milestone in the adoption of autonomous delivery technology. Serve's robots, equipped with advanced AI and GPS systems, represent a leap forward in last-mile logistics. The integration with Uber Eats' platform showcases the scalability of this technology and its potential to revolutionize food delivery.

The commitment to deploy 2,000 robots by 2025 is ambitious but aligns with the growing trend of automation in urban environments. This move could potentially reduce delivery costs and improve efficiency, benefiting both restaurants and consumers. However, it's important to monitor the robots' performance in diverse urban settings and their impact on local employment in the gig economy.

Market Research Analyst

This collaboration between Serve Robotics, Shake Shack and Uber Eats represents a strategic market positioning in the rapidly evolving food delivery sector. By offering autonomous robot delivery, Shake Shack differentiates itself in a competitive market, potentially attracting tech-savvy consumers and enhancing brand perception.

For Serve Robotics, partnering with a popular chain like Shake Shack validates their technology and could accelerate adoption by other restaurants. The eco-friendly aspect of the robots aligns with growing consumer demand for sustainable options, which could drive customer preference and loyalty. This move could potentially reshape the food delivery landscape, prompting competitors to invest in similar technologies to stay relevant.

Financial Analyst

The financial implications of this partnership are significant. For Serve Robotics (SERV), this deal could accelerate revenue growth and potentially lead to increased market share in the autonomous delivery space. The commitment to deploy 2,000 robots suggests substantial capital investment, which investors should monitor closely.

For Shake Shack (SHAK), this initiative could improve profit margins by reducing delivery costs, particularly important in the low-margin restaurant industry. It may also drive sales through increased order volume from customers attracted to the novelty of robot delivery. Uber (UBER) stands to benefit from enhanced platform attractiveness and potential cost savings in their delivery operations. Investors should watch for metrics on customer adoption, delivery efficiency and cost reduction in upcoming earnings reports.

• Select Shake Shack customers in the Los Angeles area may receive their next order via a Serve robot
• Serve continues to make progress towards its commitment to deploy up to 2,000 AI-powered sidewalk delivery robots on the Uber platform

SAN FRANCISCO, Aug. 14, 2024 /PRNewswire/ -- Serve Robotics Inc. ("Serve") (Nasdaq: SERV), a leading autonomous sidewalk delivery company, and Shake Shack Inc. ("Shake Shack") (NYSE: SHAK) today announced a partnership to deliver Shake Shack using Serve's autonomous delivery robots via Uber Eats, the delivery platform of Uber Technologies Inc. (NYSE: UBER).

Customers who order from select Shake Shack restaurants in Los Angeles through Uber Eats may receive their order via Serve's innovative autonomous robots. The partnership marks another step forward in the expansion of sidewalk robots on Uber Eats, which has been offering Serve's autonomous deliveries in Los Angeles since 2022, and is poised to lead to future expansion across the U.S.

"We are excited to add another national merchant like Shake Shack to our platform, a partnership made possible through the relationship we have built with Uber Eats across tens of thousands of successful deliveries," said Touraj Parang, President and COO of Serve Robotics. "Today's announcement highlights the value of Serve's world-class strategic partnerships as we work to expand our geographic footprint and deploy 2,000 robots across the U.S. in 2025."

"We're thrilled about our collaboration with Serve Robotics and Uber Eats," said Steph So, Senior Vice President of Digital Experience at Shake Shack. "In line with our vision of enlightened hospitality, this partnership highlights our commitment to leveraging innovation to enhance guest experiences both in and out of Shack."

"Serve has been advancing their technology for years to provide merchants and consumers with not only a futuristic experience but greater affordability, reliability, and convenience," said Noah Zych, Global Head of Autonomous Mobility & Delivery at Uber. "We're thrilled to take another step forward and give Shake Shack customers in Los Angeles a little more Uber magic through sidewalk robot delivery."

Key Features of Serve's Autonomous Delivery Robots:

• Quick and Convenient: Optimized for efficient route planning and available on demand, Serve's robots enable food to arrive reliably, hot/cold and fresh.
• Secure and Contactless Delivery: Serve's robots are designed to maintain the security of the food items during transit, providing a fully contactless delivery option.
• Cost-Effective: Robotic delivery increases efficiency and lowers costs. And there's no need to tip the robot!
• Safe Navigation Systems: Equipped with advanced GPS technology and artificial intelligence (AI), the robots safely and swiftly navigate urban environments, avoiding obstacles and offering a smooth delivery experience.
• Eco-Friendly Solution: The all-electric robots will eliminate noise and congestion from crowded urban areas and help reduce the carbon footprint associated with traditional delivery methods.

Shake Shack autonomous robotic delivery is currently available through the Uber Eats app. To learn more about the delivery process, visit www.serverobotics.com/uber-eats.

About Shake Shack
Shake Shack serves elevated versions of American classics using only the best ingredients. It's known for its delicious made-to-order Angus beef burgers, crispy chicken, hand-spun milkshakes, house-made lemonades, beer, wine, and more. With its high-quality food at a great value, warm hospitality, and a commitment to crafting uplifting experiences, Shake Shack quickly became a cult-brand with widespread appeal. Shake Shack's purpose is to Stand For Something Good®, from its premium ingredients and employee development, to its inspiring designs and deep community investment. Since the original Shack opened in 2004 in NYC's Madison Square Park, the Company has expanded to over 550 locations system-wide, including over 350 in 34 U.S. States and the District of Columbia, and over 195 international locations across London, Hong Kong, Shanghai, Singapore, Mexico City, Istanbul, Dubai, Tokyo, Seoul and more.

Skip the line with the Shack App, a mobile ordering app that lets you save time by ordering ahead! Guests can select their location, pick their food, choose a pickup time and their meal will be cooked-to-order and timed to arrival. Available on iOS and Android.

Learn more: shakeshack.com | IG: @shakeshack | t: @shakeshack | facebook.com/shakeshack

About Uber
Uber's mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 49 billion trips later, we're building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.

About Serve Robotics
Serve Robotics develops advanced, AI-powered, low-emissions sidewalk delivery robots that endeavor to make delivery sustainable and economical. Spun off from Uber in 2021 as an independent company, Serve has completed tens of thousands of 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 on the Uber Eats platform across multiple U.S. markets.

For further information about Serve Robotics (Nasdaq:SERV), please visit www.serverobotics.com or follow us on social media via X (Twitter), Instagram, or LinkedIn @serverobotics.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Serve intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Exchange Act. These forward-looking statements can be about future events, including statements regarding Serve's intentions, objectives, plans, expectations, assumptions and beliefs about future events, including Serve's expectations with respect to the financial and operating performance of its business, its capital position, and future growth. The words "anticipate", "believe", "expect", "project", "predict", "will", "forecast", "estimate", "likely", "intend", "outlook", "should", "could", "may", "target", "plan" and other similar expressions can generally be used to identify forward-looking statements. Indications of, and guidance or outlook on, future earnings or financial position or performance are also forward-looking statements. Any forward-looking statements in this press release are based on management's current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. Risks that contribute to the uncertain nature of the forward-looking statements include those risks and uncertainties set forth in Serve's Annual Report on Form 10-K for the year ended December 31, 2023, filed with the United States Securities and Exchange Commission (the "SEC") and in its subsequent filings filed with the SEC. All forward-looking statements contained in this press release speak only as of the date on which they were made. Serve undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Contacts

Media
Malory Van Guilder
Skyya PR for Serve Robotics
serve@skyya.com
651.335.0585

Investor Relations
investor.relations@serverobotics.com

 

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SOURCE Serve Robotics Inc.

FAQ

What is the partnership between Serve Robotics and Shake Shack?

Serve Robotics (NASDAQ: SERV) and Shake Shack (NYSE: SHAK) have partnered to offer autonomous robot delivery via Uber Eats for select Shake Shack customers in the Los Angeles area.

How many robots does Serve Robotics plan to deploy by 2025?

Serve Robotics plans to deploy 2,000 AI-powered sidewalk delivery robots across the U.S. by 2025.

What are the key features of Serve Robotics' autonomous delivery robots?

Serve's robots offer quick and convenient delivery, secure and contactless service, cost-effective operations, safe navigation using GPS and AI, and an eco-friendly, all-electric design.

When did Serve Robotics start offering autonomous deliveries on Uber Eats?

Serve Robotics has been offering autonomous deliveries on Uber Eats in Los Angeles since 2022.

How can customers order Shake Shack using Serve Robotics' autonomous robots?

Customers can order from select Shake Shack restaurants in Los Angeles through the Uber Eats app, and they may receive their order via Serve's autonomous robots.