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Serve Robotics fell 9.6% after raising $100M via a share offering to fund operations and expand its robot fleet.
Serve Robotics (SERV) saw its stock drop 9.6% on October 10, 2025, after announcing a $100 million share offering of 6.25 million shares at $16 each to institutional investors.
The move follows a 29% stock surge the prior day on news of a DoorDash partnership and the deployment of over 1,000 autonomous food delivery robots.
Despite a 52% gain in October, the company reported less than $2 million in revenue last year and has lost $34 million in 2025, necessitating external funding for working capital and operations.
The offering, timed amid rising investor interest, led to share dilution as existing shareholders sold.
The company aims to expand its robot fleet to nearly 2,000 units by year-end, targeting a growing automated delivery market.
Serve Robotics cayó un 9.6% después de recaudar $ 100M a través de una oferta de acciones para financiar operaciones y expandir su flota de robots.