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Corporate Venture
7-ventures.co

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Investments

14

Portfolio Exits

3

About 7-Ventures

7-Ventures, the investment arm of 7-Eleven, is focused on early stage investments in new food & beverage categories, new retail business models, and next generation customer engagement and payment networks & technologies.

7-Ventures Headquarter Location

One Arts Plaza 1722 Routh St., Suite 1000

Dallas, Texas, 75201,

United States

972-828-7011

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Latest 7-Ventures News

Serve Robotics Secures Funding From Strategic Investors Uber, Delivery Hero-backed DX Ventures, 7-Eleven’s 7-Ventures, and Wavemaker Labs

Dec 7, 2021

, Delivery Hero-backed DX Ventures, 7-Eleven’s 7-Ventures, and Wavemaker Labs Serve Robotics, the leading autonomous sidewalk delivery company, today announced the closing of a $13 million expanded seed funding round, with participation from strategic investors Uber Technologies, Inc. (NYSE: UBER); Delivery Hero (FRA: DHER) backed DX Ventures; 7-Eleven Inc.’s corporate venture arm, 7-Ventures, LLC; and Wavemaker Partners’ food automation focused venture studio Wavemaker Labs. The new round extends Serve’s previous seed funding and includes participation by existing seed investors Neo, Western Technology Investment, and Scott Banister among others. The capital will be used to accelerate the company’s path to commercial scale, driving its fleet expansion, geographic growth, and continued product development. Serve Robotics is shaping the future of sustainable, self-driving delivery. Founded in 2017 as the robotics division of Postmates, Serve is now an independent company on a mission to make delivery more affordable, sustainable and accessible for everyone. The company’s self-driving robots have completed tens of thousands of contactless deliveries in major U.S. cities. “Serve Robotics is pleased to have the backing of strong strategic partners able to support our intention to provide sustainable, self-driving delivery at scale,” said Dr. Ali Kashani, Co-founder and CEO of Serve Robotics. “This initial round of financial and strategic support will allow us to continue advancing our technology, growing our team, and expanding our partnership platform.” “Uber and Serve share a commitment to convenience and reliability,” said Sarfraz Maredia, Vice President and Head of Uber Eats in North America. “As a Serve investor, we’re excited to help shape self-driving delivery technology that can meet changing consumer and merchant needs.” “Serve Robotics has brought self-driving delivery to major U.S. cities and is leading the field of robotics with its cutting-edge autonomous technology,” said Brendon Blacker, Partner at DX Ventures. “This game-changing technology has the potential to reshape the future of delivery and we are investing in Ali’s vision and the world-class team he has assembled.” “Our vision at 7-Eleven is to be the first choice for convenience – anytime, anywhere. We are redefining convenience by delivering innovative shopping solutions to our customers,” said Raghu Mahadevan, 7-Eleven SVP and Chief Digital Officer. “This collaboration will allow us to continue our 94-year legacy of innovation and expand our last mile delivery capabilities to make 7NOW more affordable, sustainable and accessible for everyone.” “Serve Robotics has built a highly advanced, self-driving delivery robot that delivers safely and reliably for merchants,” said Buck Jordan, Founder and CEO at Wavemaker Labs. “We look forward to using autonomous delivery to elevate the customer experience and improve the unit economics of our food automation brands.” This new capital, combined with Serve’s recent success in major U.S. markets, further establishes Serve Robotics’ position as the leader in autonomous sidewalk delivery and is a milestone on the company’s path to national and global scale. Write in to  psen@itechseries.com  to learn more about our exclusive editorial packages and programs.

7-Ventures Investments

14 Investments

7-Ventures has made 14 investments. Their latest investment was in Serve Robotics as part of their Seed VC - II on December 12, 2021.

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7-Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/6/2021

Seed VC - II

Serve Robotics

$13M

Yes

34

8/9/2021

Series B

Super Coffee

$106M

Yes

8

4/8/2019

Unattributed VC

Muse Nutrition

$7.09M

Yes

2

5/24/2017

Series C

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$99M

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10

9/16/2016

Series C

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$99M

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10

Date

12/6/2021

8/9/2021

4/8/2019

5/24/2017

9/16/2016

Round

Seed VC - II

Series B

Unattributed VC

Series C

Series C

Company

Serve Robotics

Super Coffee

Muse Nutrition

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Amount

$13M

$106M

$7.09M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

34

8

2

10

10

7-Ventures Portfolio Exits

3 Portfolio Exits

7-Ventures has 3 portfolio exits. Their latest portfolio exit was BRiGGO on October 30, 2020.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

10/30/2020

Acquired

1

11/14/2018

Acquired

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$99M

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10

9/27/2018

Acquired

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$99M

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10

Date

10/30/2020

11/14/2018

9/27/2018

Exit

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

1

10

10

7-Ventures Team

1 Team Member

7-Ventures has 1 team member, including current Founder, Raja Doddala.

Name

Work History

Title

Status

Raja Doddala

Founder

Current

Name

Raja Doddala

Work History

Title

Founder

Status

Current

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