Shares of Serve Robotics Inc. (SERV) surged 21.68% in pre-market trading on Monday, propelled by two key factors driving investor enthusiasm for the autonomous delivery company.
Firstly, Serve Robotics announced that it had raised $86 million in new financing in December 2024, bringing its total gross proceeds for the year to $167 million. This significant infusion of capital bolsters the company's financial position, extending its expected operational runway through the end of 2026. With a strengthened balance sheet, Serve is well-positioned to invest in scaling its operations, advancing its technology, and entering new markets in its mission to transform last-mile delivery.
Moreover, the rally in Serve Robotics' stock was part of a broader surge in robotics stocks, fueled by investor optimism surrounding the potential growth and adoption of robotics technologies across various sectors. Companies like Nauticus Robotics, Microbot Medical, Lifeward, and others saw substantial gains, reflecting the positive sentiment towards the robotics and automation industry.
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