Latest raise brings the leader in Autonomous Last Mile
delivery to more than $11 million in
investments
INDIANAPOLIS, June 19,
2024 /PRNewswire/ -- Arrive AI, the inventor of the
nation's first AI-powered smart mailbox platform and holder of a
first position patent portfolio for the technology, has raised more
than $1.5 million in its latest
crowdfunding effort.
"We could not be more proud of the validation from our investors
voting with their dollars for US! Our investor community is made up
of everyday people who see the value in our business model and
share our excitement as we approach our public trading debut," said
AI CEO Dan O'Toole. "It's also,
apparently, virtually unheard of to have this level of success with
crowdfunding, so that's another point of pride."
Launched in 2014 with an idea of providing a secure package
delivery point for autonomy, Arrive AI has now raised more than
$11 million via individual
contributions and three crowdfunding raises, garnering more than
$6 million combined over its three
raises on WeFunder, StartEngine and PicMii.
Per Fundera, the average successful crowdfunding campaign raised
in 2022 was just $824 and the
average, fully funded campaign had 300 backers. Arrive AI has more
than 5,000 individual contributors.
Arrive AI's platform solves a longstanding issue of package
security and sets the stage for a multitude of other services with
its autonomous last mile offerings.
In the U.S. alone last year, more than $1
trillion was spent on e-commerce and more than 21 billion
packages were shipped. More than 40 percent of Americans have
experienced package theft. The typical stolen parcel was worth
about $50. Package thieves poached
more than $8 billion in merchandise
over the past year.
Arrive AI's MaaS platform provides a secure receptacle into
which traditional mail and packages will be deposited. Only the
subscriber and delivery (human or autonomous device) will be able
to open the device, which will be securely installed and protected
by alarms and video. Because autonomous deliveries will be made via
QR Code identification, inaccurate deliveries will be greatly
reduced. Subscribers will be able to return packages as easily as
they are delivered. Large enterprises like hospital campuses,
retirement communities, and business centers can also use the
platform to speed deliveries from clinic to laboratory and back to
clinics for faster analysis and prognosis.
About Arrive AI
Arrive AI's patented
Mailbox-as-a-Service (MaaS) platform makes the exchange of goods
between people, robots and drones frictionless through the use of
artificial intelligence, leveraging climate-assisted cargo space,
smart alerts and advanced chain of custody controls to secure the
last inch of the last-mile for all shippers, delivery services and
autonomous delivery networks. Arrive is merging with Bruush to
trade as ARRV. See more at Arriveai.com
Media contact: Cheryl Reed,
379320@email4pr.com, 317-446-5240
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SOURCE Arrive AI