Serve Robotics Acquires Phantom Auto’s Assets for $5.75M, Boosts Autonomous Robot Fleet with Low-Latency Tech

Serve Robotics Inc. (NASDAQ:SERV) is one of the best small cap AI stocks to invest in according to hedge funds. On September 9, Serve Robotics announced the acquisition of the assets of Phantom Auto Inc. and its subsidiary, Voysys AB, for a cash consideration of ~$5.75 million. The acquisition was completed earlier in the year and enhances Serve’s technology stack for its quickly expanding fleet of autonomous delivery robots.

Voysys AB is headquartered in Norrköping, Sweden, and was founded in 2014. It’s a pioneer in ultra-low latency video streaming, connectivity, and teleoperation technology. Its industry-leading platform-agnostic video and data streaming solutions are designed to connect to autonomous vehicles, machinery, and robots over heterogeneous networks, including 4G/LTE and 5G.

Serve Robotics Acquires Phantom Auto's Assets for $5.75M, Boosts Autonomous Robot Fleet with Low-Latency Tech

Voysys’ proprietary technology, which includes bandwidth regulation, advanced video compression, and multi-link redundancy, achieves a glass-to-glass latency as low as 50 milliseconds. The technology also offers a visualization toolbox for customizing the user experience with 3D, VR, and bird’s eye views, and includes an SDK for customizable 3D features like AR rendering. Voysys will continue to operate as a standalone video streaming and teleoperation technology provider under Serve’s Software & Data Services platform.

Serve Robotics Inc. (NASDAQ:SERV) designs, develops, and operates low-emission robots that serve people in public spaces for food delivery activity in the US.

While we acknowledge the potential of SERV to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SERV and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.