Arrive Al, an autonomous delivery network anchored by patented Al-powered Arrive Points, has received approval to list its shares on the Nasdaq under the symbol (NASDAQ: ARAI).
The company expects its shares to commence trading tomorrow. “Arrive Al’s Nasdaq listing marks the culmination of a significant journey,” said Arrive Al founder and CEO Dan O’Toole.
“Building upon our initial patent filing in 2014, we’ve relentlessly refined our technology and unique positioning in last-mile logistics. Today signifies a new dawn of secure, autonomous package delivery. We owe this milestone to our nearly 5,000 investors who have believed in us since the start.”
Arrive Al makes autonomous delivery work, ensuring security and chain-of-custody to the intended recipients at the right time. The company provides tracking data, smart logistics alerts, and advanced custody controls to secure last-mile delivery for shippers, delivery services and autonomous networks.
Arrive Al’s foundational patent – for a universal access point that asynchronously interacts with people, robots and drones – was filed four days before Amazon’s. Since then, the company has expanded its IP portfolio to include numerous claims and patents, such as climate assistance and anti-theft features.
“With Arrive Al, you get a network and a platform. Our value proposition lies in building the essential and patent-protected infrastructure – a universal network of intelligent endpoints – that underpins our entire autonomous delivery ecosystem,” O’Toole said.
“We leverage data technology and artificial intelligence to simplify last-mile service, avoid failed deliveries, streamline processes to increase efficiencies and improve partner and end user outcomes. Our long-term objective is to achieve critical data mass to create a platform for additional innovative services.”
Prior to its direct public listing, Arrive Al raised nearly $12 million, largely via crowdfunding and secured $40 million in funding from an institutional investor.
Arrive Al Chief Financial Officer Todd Pepmeier said the direct listing “will enable the company to raise capital through public means and fuel our growing revenue streams.”
Maxim Group LLC acted as the exclusive financial advisor to Arrive Al in connection with the direct listing.
The Company also launched a new Investor Relations section on its website, which will serve as a central resource for shareholders, featuring information such as stock information, press releases, shareholder meetings, FAQs and more.
