Uber spins out robotic delivery company

Uber has spun out the robotics delivery arm of Postmates as its own company.

Postmates X was the robotics division of Postmates, the food delivery rival that Uber acquired last year for $2.65bn. It is now being spun out as a new independent company, called Serve Robotics, and will continue to develop its autonomous delivery robot that travels in urban areas to deliver orders.

Uber will retain a stake in Serve while the newly independent company has raised a seed round led by venture capital firm Neo, with participation from Postmates’ founders and several of Uber’s backers. No figures were disclosed…

The spin-out is the latest example of Uber shedding some of its business activities and the costs that come with them. Over the last year it has sold off its autonomous car research unit, offloaded its e-bike division to Lime, sold a major stake in its logistics arm, and sold its European freight forwarding business.