Ouster and Serve Robotics Sign Multi-Year Strategic Agreement to Support Expansion of Autonomous Delivery Fleets
Ouster to supply thousands of digital lidar sensors to Serve Robotics through 2025 to enable the safe and efficient navigation of sidewalk delivery robots
Ouster, Inc. (NYSE: OUST) ("Ouster" or the "Company"), a leading provider of high-resolution digital lidar sensors, announced today that it has signed a strategic customer agreement with autonomous sidewalk delivery company, Serve Robotics. The agreement includes a binding commitment for OS digital lidar sensors through 2023, along with a non-binding forecast for additional sensors through 2025 as Serve Robotics scales its delivery fleets across U.S. cities and beyond.
Serve Robotics plans to outfit each of its next-generation delivery robots with an Ouster OS1 sensor. The digital lidar is fused into the robot's autonomy stack to locate its precise position and simultaneously generate a real-time 3D map of its surrounding environment so that it can navigate more safely and efficiently on city sidewalks alongside pedestrians and other road users.
"Ouster's lidar has been instrumental in helping us achieve major technical and commercial milestones. We have been working with Ouster for well over a year and continue to be impressed by the ongoing performance improvements, quality, and reliability of its digital technology," said Serve Robotics' VP of Hardware Engineering, Euan Abraham. "We feel confident that Ouster is the right company to scale with us as we move into this next phase of market expansion with Level 41 autonomy delivering for several new commercial partners."
Serve Robotics recently achieved a major milestone with the commercial launch of Level 4 self-driving robots. Its fleet of next-generation robots will power the company's expansion into additional geographies as it rolls out delivery service for Uber Eats and other partners in 2022. Last mile delivery is the most expensive part of the delivery chain, often representing more than 50% of the overall cost. The proliferation of autonomous delivery represents a significant opportunity to capture an estimated $1.8 billion total addressable market (TAM) for lidar in the robotics industry by 20252.
"Serve Robotics is one of our longest standing customers and one of the first to commercially deploy AV technology in a real-world environment alongside pedestrians and vehicles," said Ouster's President of Field Operations, Nate Dickerman. "We are thrilled to further solidify our relationship with a multi-year strategic customer agreement as Serve scales the production and deployment of its sidewalk delivery robots."
About Serve Robotics
Serve Robotics is shaping the future of sustainable, self-driving delivery. The company designs, develops and operates zero-emission robots that serve people in public spaces, starting with food delivery. Founded in 2017 as the robotics division of Postmates, Serve set out to build a robotic delivery experience that delights customers, improves reliability for merchants and reduces vehicle emissions to zero. Five years later, the company's self-driving robots have successfully completed tens of thousands of contactless deliveries in Los Angeles and San Francisco. Spun off as an independent company in February 2021, Serve is backed by Uber, 7-Eleven and Delivery Hero's corporate venture units and other world-class investors. Serve has several established commercial partnerships and continues to expand its partners platform. Find out more at www.serverobotics.com, follow us on social media via Twitter and Instagram, or apply to join our team on LinkedIn.
Ouster (NYSE: OUST) is building a safer and more sustainable future through its high-resolution digital lidar sensors for the automotive, industrial, smart infrastructure, and robotics industries. Ouster's sensors offer an excellent combination of price and performance with the flexibility to span hundreds of use-cases and enable revolutionary autonomy across industries. With a global team and high-volume manufacturing, Ouster supports approximately 600 customers in over 50 countries. Ouster is headquartered in San Francisco, CA with offices in the Americas, Europe, Asia-Pacific, and the Middle East. For more information, visit www.ouster.com, or connect with us on Twitter or LinkedIn.