Arrive AI selects Synoptek as IT partner ahead of platform launch

COSTA MESA, Calif. - Arrive AI (NASDAQ:ARAI), a $308 million market cap autonomous delivery company whose stock has declined nearly 30% year-to-date, has chosen Synoptek as its strategic IT partner under a three-year agreement to support its upcoming growth phase, according to a press release statement issued Monday.According to InvestingPro data, Arrive AI currently maintains a strong balance sheet with more cash than debt, positioning it well for its expansion plans.

The autonomous delivery network company, which recently secured $40 million in funding from Streeterville Capital, plans to launch its patented autonomous delivery platform later this summer and expects to double its staff size.

Under the partnership, Synoptek will provide comprehensive IT solutions including cybersecurity, enterprise-grade IT infrastructure, and 24/7 AI-enabled managed services operations.

"Synoptek’s strategic approach, deep expertise, robust tech stack and strong partnerships with Microsoft and ServiceNow made it a clear choice," said Mark Hamm, COO of Arrive AI, in the statement.

The agreement comes at a pivotal time for Arrive AI as it prepares to introduce its Autonomous Last Mile platform, which enables deliveries to and from AI-powered mailboxes using drones, ground robots, or human couriers.

Salil Godika, CEO at Synoptek, stated that his company will serve as "an extension of the Arrive AI team" to build "a resilient and secure IT backbone that supports innovation and scale."

Synoptek will also provide advisory services related to security, AI, and application innovation as Arrive AI continues development in the AI transportation and logistics sector.

The partnership represents an expansion of Synoptek’s presence in the logistics and manufacturing sectors, aligning with its focus on delivering secure and connected IT environments.InvestingPro analysis indicates that while Arrive AI’s stock trades at a high Price/Book multiple of 51.13, the company maintains a "Fair" overall financial health score, suggesting balanced growth potential. Subscribers can access 8 additional ProTips and comprehensive financial metrics to better evaluate the company’s investment potential.

In other recent news, Arrive AI has partnered with Hancock Health to launch a robotic delivery system, marking its first revenue-generating deployment of the Arrive Point for medical logistics. This initiative is expected to enhance efficiency in delivering biospecimens across Hancock Health’s network in East Central Indiana. Additionally, Arrive AI has secured a new U.S. patent for its AI-powered smart mailbox platform, which is crucial for its autonomous delivery network. This patent introduces features such as temperature control, which are particularly beneficial for the healthcare sector.

In another development, Arrive AI announced a partnership with India’s Skye Air Mobility to deploy secure delivery mailboxes, starting with 60 units in Gurugram and expanding to 500 units. The collaboration aims to meet the growing demand for drone deliveries in India. Furthermore, Arrive AI will ring the Nasdaq opening bell on July 3, 2025, a ceremony that celebrates its public trading debut in May 2025.

The company also appointed Laurie Tucker to its Board of Directors, bringing her extensive experience in logistics and strategy from her time at FedEx. These recent developments highlight Arrive AI’s strategic moves in expanding its technological capabilities and market presence.

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