Smart mailbox firm Arrive plans for Nasdaq launch in 2024

Good mailbox agency Arrive plans for Nasdaq launch in 2024

Good mailbox and parcel supply locker know-how supplier Arrive is getting ready to go public on the Nasdaq inventory alternate and will start buying and selling beneath the ticker image “ARRV” as quickly as early 2024, the corporate stated Tuesday.

The Indianapolis-based agency was based beneath the identify “Dronedek” however rebranded to its new identify in Might. Up to now, it has relied on crowdsourcing for funding, and has raised greater than $8.5 million in backing from greater than 4,700 traders.

“It’s no secret that we’ve been gearing as much as go public,” Arrive Founder and CEO Dan O’Toole stated in a launch. “It’s the pure subsequent step for us as we put together to roll out our sensible mailboxes to be used by customers and firms constructing their autonomous supply networks.”

Arrive says its objective is to revolutionize last-mile supply and pickup by constructing a community that helps autonomous drone and robotic supply. The corporate says its mailbox-as-a-service (MAAS) platform and infrastructure options empower autonomous supply networks (ADNs) to function extra effectively with safe and climate-assisted cargo area, sensible alerts, and chain of custody.

In Arrive’s view, using sensible mailboxes and autonomous supply companies wouldn’t solely make package deal supply extra environment friendly however would additionally assist to cut back greenhouse gasoline (GHG) emissions by lowering the vehicular site visitors presently wanted to deliver parcels to households.

The corporate is a part of a rising sector of companies offering package deal supply lockers in settings from retail shops to avenue corners to house constructing lobbies. Whereas different locker distributors don’t assist autonomous supply, they likewise shift last-mile driving routes from particular person doorsteps to shared storage websites. Different gamers embody legacy distributors like Bell and Howell LLC and the e-commerce large Amazon, in addition to fellow startups like Texas-based Fetch Bundle Inc. and the Estonian firm Cleveron AS.



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