Kiwibot lands $10 million to expand its fleet of restaurant food delivery robots
Robotic food delivery services are gaining popularity across the globe, and Kiwibot has been at the forefront of this trend. Recently, the Colombian startup announced that it has secured a $10 million financing partnership with asset financing group kineo finance to grow its robotic fleet and expand its services in the delivery-as-a-service (DaaS) industry.
The latest financing agreement comes after Kiwibot raised $24 million in funding in the last one year. The new funds will reportedly be used to help with the company’s manufacturing and scaling needs. With a presence at 27 US college campuses and 41 cities worldwide.
kineo finance is known for providing smart asset financing for startups while limiting dilution. This partnership marks Kineo’s first involvement in the DaaS industry and presents a significant opportunity for startups to consider alternatives to venture lending and venture capital funding. Kiwibot’s growth in the DaaS sector has made it an attractive option for kineo finance.
Kiwibot’s on-demand delivery service is already available via apps like Grubhub and Sodexo’s Everyday. These robots are equipped with GPS technology, advanced camera sensors, and artificial intelligence (AI) to generate optimal routes, avoid obstacles, and provide cost-effective service. Kiwibot’s delivery service reduces food delivery costs by up to 65%.
The global autonomous last-mile delivery market is expected to grow from $11.9 billion in 2021 to $75.7 billion by 2030, at a CAGR of 22.7% during the forecast period. The increasing demand for faster delivery and the need to reduce delivery costs are driving the growth of this market. As consumers increasingly opt for online food delivery, the demand for restaurant food robotic delivery services is expected to rise, which bodes well for companies like Kiwibot.
The trend of restaurant delivery robots has been growing in recent years. Other companies in this space include Starship Technologies and Postmates. In related news, Flytrex, a drone delivery service provider, earlier this month received the Standard Part 135 Air Carrier Certification from the Federal Aviation Administration (FAA), granting Causey Aviation Unmanned, Inc (CAU), its partner, the certification to provide drone delivery services beyond the line of sight. The certification allows Flytrex and CAU to deliver goods to more than 82 million properties across the United States.
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