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SAN FRANCISCO - Serve Robotics Inc. (NASDAQ:SERV), currently valued at $628 million and trading near $10.50, has acquired the assets of Phantom Auto Inc. and its Swedish subsidiary Voysys AB for approximately $5.75 million in cash, the autonomous sidewalk delivery company announced Tuesday. According to InvestingPro data, the company maintains a strong liquidity position with cash exceeding debt on its balance sheet.
Voysys, founded in 2014, specializes in ultra-low latency video streaming and connectivity technology that enables connection to autonomous vehicles and robots over heterogeneous networks. The company’s technology provides glass-to-glass latency as low as 50 milliseconds through proprietary bandwidth regulation, advanced video compression, and multi-link redundancy. InvestingPro analysis reveals 10+ additional insights about Serve Robotics’ operational efficiency and growth prospects.
"As we rapidly scale our fleet, Voysys technology will be a critical enabler of safe and reliable operations in dense urban environments," said Dr. Ali Kashani, CEO and co-founder of Serve Robotics. Kashani noted that the technology has already been integrated into the company’s autonomy stack running its production fleet of hundreds of robots.
According to the company, Voysys will continue to operate as a standalone entity under Serve’s Software & Data Services platform, maintaining its existing contracts with clients including a European commercial vehicle manufacturer and a middle-mile autonomous trucking company.
The acquisition follows Serve’s recent purchase of Vayu Robotics, which the company states will accelerate adoption of end-to-end foundation AI-based autonomy.
Torkel Danielsson, Voysys co-founder and CEO, said: "Joining Serve allows us to scale our impact while continuing to support our valued industrial partners."
Serve Robotics, which spun off from Uber in 2021, has completed tens of thousands of deliveries for partners such as Uber Eats and 7-Eleven. The company has contracts to deploy up to 2,000 delivery robots on the Uber Eats platform across multiple U.S. markets. For detailed analysis and comprehensive insights, access the full Pro Research Report available on InvestingPro, covering what matters most about Serve Robotics’ growth trajectory and market position.
This information is based on a press release statement from Serve Robotics.
In other recent news, Serve Robotics reported its second-quarter 2025 earnings, revealing a revenue of $641,000, a 46% sequential increase. However, the company posted an earnings per share (EPS) of -$0.24, falling short of market expectations. Following these results, Seaport Global Securities downgraded Serve Robotics’ stock rating from Buy to Neutral, noting that while revenue was in line with expectations, significant growth is anticipated more towards late 2026. Meanwhile, Cantor Fitzgerald reiterated its Overweight rating with a $17.00 price target, emphasizing Serve Robotics’ strong unit economics and strategic partnerships. The company has deployed 120 robots in the second quarter, increasing its fleet to 400, with plans to expand to 2,000 by year-end. Additionally, Wedbush initiated coverage of Serve Robotics with an Outperform rating and a $15 price target, highlighting the company’s potential in AI-driven last-mile delivery. These developments reflect a mix of analyst perspectives on Serve Robotics’ future performance.
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