Uber invests in Robotics company
The ride sharing company takes a stake in Serve Robotics.

Uber Technologies Inc (NYSE: UBER) is channeling its efforts and resources into a deal to outsource Postmates' delivery robot operations. The company aims to create a separate startup that will help increase its profits. Uber confirms that it will lead efforts to create the startup, a deal that is estimated to cost an estimated $ 50 million. As a startup, Serve Robotics will play an important role in providing customers with easy access to food and other essentials. The beauty of the whole thing is the point that at no point is human intervention required. Serve Robotics will have many shareholders, but Uber will have a minority stake. A year ago, Uber took over Postmates. The company continues to look for ways to maximize its profits and sees the new startup as a lucrative one. Ali Kashani is in charge of Postmates' robot deliveries, and he could get a promotion soon. The plan is to let Kashani run the new startup. Serve Robotics will launch with around 60 employees, and the number could increase as the business expands. Most of these employees will be based in San Francisco. Uber confirmed that the new startup will operate independently and free of external influences and forces. However, the startup must maintain a close relationship with the parent company, as stipulated in the agreement. Expansion efforts are currently underway, with the startup announcing plans to expand its robot fleet soon. It intends to increase the number from dozens to thousands in order to significantly increase business operations. Kashani remains optimistic about the future and says the next five years will be transformative. The official sees a future where delivery robots will be the order of the day. Uber has the determination to be successful and that's easy to see when you consider it hit its self-imposed profitability deadline. The company assures that it will do everything it can to achieve the target by the end of this year. Uber Chief Executive Officer Dara Khosrowshahi supports the company in its quest to be successful, which is why he lost thousands of jobs. The official also initiated the sale of some of the company's experimental projects.
