Serve Robotics Inc. has announced its agreement to acquire the assets of Vebu Inc., a full-stack automation and robotics solutions for restaurant partners.
Financial terms of the all-stock transaction were not disclosed and the transaction is subject to customary closing conditions.
Vebu's signature robotic product is the Autocado, the pioneering avocado-processing robot which eliminates the need for restaurant workers to cut, core and scoop avocados to prepare guacamole. The Autocado allows employees to load up to 25 pounds of avocados into the device and walk away to focus on serving customers and preparing other items. It is in pilot testing in Chipotle's Huntington Beach, Calif. restaurant.
The transaction is expected to unlock key opportunities:
- Deeper Partnerships: The acquisition is expected to strengthen Serve’s competitive position by providing its restaurant partners with a suite of automation solutions and expanding Serve’s offering beyond delivery into back-of-house automation. Vebu will help Serve become a more integral partner to restaurants, accelerating partner adoption as Serve expands its geographic footprint in new cities across the U.S.
- Increased Market Opportunity: By introducing Vebu's back-of-house automation to Serve's existing offering, Serve intends to open up new market opportunities by addressing a broader range of operational needs for restaurants. This aligns well with Serve’s recent expansion into delivery over all distances through its partnership with Wing Aviation, together making Serve one of the most comprehensive automation providers in the restaurant industry.
- New Partners: Vebu’s existing partnership with leading restaurant companies such as Chipotle will extend Serve’s existing business relationships, which include Shake Shack and 7-Eleven, among others.
Vebu's founder and CEO Buck Jordan will join Serve Robotics as SVP of Kitchen Automation upon closing the transaction. He will continue to lead the Vebu team, overseeing Autocado’s continued development, and driving additional innovations on the product roadmap. Mr. Jordan, a serial entrepreneur who previously founded Miso Robotics, brings deep expertise and connections in kitchen automation that will bolster Serve’s ability to address the automation needs of the restaurant industry.
