Serve Robotics Inc. · NASDAQ:SERV
Serve Robotics — Investor Presentation (August 2024)
22 slides from Serve Robotics's investor presentation, Aug 13, 2024
Slide 1: Robotic Last Mile Delivery August 2024
Robotic Last Mile Delivery August 2024 Exhibit 99.2
Slide 2: Disclaimer: Forward Looking Statements
Disclaimer FORWARD LOOKING STATEMENTS This Serve Robotics Inc. (the “Company”) investor presentation contains “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform
Slide 3: Rapid progress in robotics and AI can help reduce our reliance on cars
Rapid progress in robotics and artificial intelligence (AI) can help reduce our reliance on cars ● U.S. drivers killed 20 pedestrians each day in 2021 1 ● Private cars & vans caused ~10% of global energy-related CO2 emissions in 2022 2 ● Tailwinds accelerating robot adoption include: advances in AI,
Slide 4: $450B by 2030: The untapped market for robotic & drone delivery
$450B by 2030: The untapped market for robotic & drone delivery 1 1. TAM calculation sourced from ARK (Big Ideas 2024) and Company estimates 2. Internal historical delivery data 3. Internal financial projections model Delivery is in hyper-growth, but costs prevent profits: ● +200% — DoorDash revenue
Slide 5: Veterans in AI, robotics, last mile
Veterans in AI, robotics, last mile ● VP at Postmates. Co-founder/CTO at Neurio (acq. Generac) ● Ph.D. in Robotics (UBC) ● 15 patents Ali Kashani, Ph.D. CEO ● Director at Postmates ● Staff engineer at Postmates ● Founding engineer at Postmates X Dmitry Demeshchuk Software ● Director, Postmates. Head
Slide 6: Investments by…
Investments by… 6 Technical partner since 2018.Largest shareholder & commercial partner. German food delivery platform in EU & Asia. First convenience store partner (13,000 stores in US/Canada).
Slide 7: Recent highlights
Recent highlights 7 $15 million additional capital ● July 2024 private placement transaction with single institutional investor Operational expansion ● Q2 2024 saw 28% increase in average supply hours and 23% increase in daily active robots ● Expanded Los Angeles operations for delivery operations i
Slide 8: Track record of growth
Track record of growth: 1 market, 300+ restaurants 8 25% MoM growth 24 months of rapid increase in deliveries since early 2022 Up to 99.94% reliability delivery completion 10x better than drivers, with roughly 0.5 failed delivery per 1,000 Over 50,000 deliveries in L.A. 100 robots for deliveries & R
Slide 9: 2000 robots under contract with Uber Eats
2000 robots under contract with 9 We have signed one of the largest contracts in the AV industry with Uber Eats. Full 2,000-robot deployment expected by the end of 2025. Our fleet is already integrated into Uber, helping grow to new markets more efficiently and achieve high levels of robot utilizati
Slide 10: Design, manufacturing, deployment and scaled operation
Design Design phase is complete for third generation robot. Engineering, validation, and test (“EVT”) units have entered validation and testing phase, and are in certification process. Manufacturing Magna secured as contract manufacturer. First robots to roll off production line by the end of Q4 202
Slide 11: We know delivery
We know delivery With unique insights from inception inside a delivery platform, we believe we have: ● Unique AI-powered robots ● Unique fleet operations ● Unique go-to-market strategy All-terrain 7 mph top speed 13 gallons of cargo, holds up to 4 pizzas All day battery Touch-screen interface Full-s
Slide 12: We believe we are market leaders in urban robotic delivery
High Safety & Reliability Low rate of failure thanks to advanced hardware & software, and redundant sensing & AI Superior Economics Lower delivery cost due to underlying forces High Autonomy Level 4-capable fleet High Utilization Scaling on a major delivery platform High Efficiency Purpose-built for
Slide 13: Delivery robots target a large market segment with clear path to scale
Autonomous Urban Robots Autonomous Vehicles Drones Range Short Distance Medium Distance Long Distance Safety Risk Low High High Regulations Permitted Restricted Restricted Commercialization Launched R&D R&D Delivery robots target a large market segment with clear path to scale Delivery is multi-moda
Slide 14: Robots have more diverse revenue opportunities than couriers
Robots have more diverse revenue opportunities than couriers Out-of-home (“OOH”) ads have supplemented our delivery revenue. Monetizing unique robot capabilities such as ads & data, as well as licensing the underlying technology, make robots more profitable than couriers. 14
Slide 15: Serve as a platform
Serve as a platform Magna International has licensed our technology to accelerate development of its new robotic products As a leading urban robotic delivery company, we believe we are well-positioned to become a platform of choice for companies building new non-competing robots and services for com
Slide 16: Level 4 autonomy commercialized
We are among the first AV companies to bring Level 4 delivery robots to market Level 2 & 3 — R.C. Robots ● Humans always in the loop to maintain safe operation ● Safety risk due to reliance on data networks and human drivers ● Poor economics, hard to scale, and low barrier to entry Level 4 — Serve R
Slide 17: We have a playbook for capital-efficient growth
We have a playbook for capital-efficient growth We have a proven model to finance building large fleets without high capex: 1. Financial partner The financial partner, as lessor, provides upfront capital for robots 2. Contract manufacturer Magna Int’l (tier 1 auto supplier) is Serve’s exclusive cont
Slide 18: The unbundling of cars
The unbundling of cars After the invention of automobiles, the U.S. went from 25 million horses (1920s) to 283 million cars (2020s), or >11 vehicles replacing each horse, according to some reports 1. We believe the development of specialized, efficient robots in the future has the potential to lead
Slide 19: Robots could reduce global emissions by ~2% annually
2.5% 100% Gas Vehicle 20% Electric Vehicle Relative Energy Consumption Per Km 2: With global adoption, we believe delivery robots could reduce CO2 emissions by approximately 762 Mt annually, while also providing more convenience to consumers. 19 Robots could reduce global emissions by ~2% Annually 1
Slide 20: Capital Markets Update and Q2 2024 Financial Results
Capital Markets Update ● Total of $60.0 million in financing completed in 2024 ○ January: Issued $5.0 million convertible notes ○ April: Completed $40.0 million public offering and uplisted to Nasdaq Capital Market ○ July: Closed $15.0 million private placement transaction Q2 2024 Financial Results
Slide 21: Thank you!
Thank you!
Slide 22: Appendix: Key Metrics & Revenue
Appendix: Key Metrics & Revenue 22 ~28% increase in QoQ Daily Supply Hours Q2 Delivery and Branding increased 80% QoQ