Indianapolis smart mailbox maker has raised more than $11 million as it readies to go to market
INDIANAPOLIS, Aug. 28, 2024 /PRNewswire/ -- Arrive AI, an autonomous delivery platform for modern-day logistics and mail service, today announced a change to its Nasdaq ticker symbol. As part of its ongoing rebranding efforts and alignment with its strategic vision, the company will be transitioning from the previously secured ticker symbol "ARRV" to the new symbol "ARAI."
"This change to the ticker symbol 'ARAI' better reflects our identity and our commitment to integrating artificial intelligence into our innovative delivery solutions," said Arrive AI CEO Dan O'Toole. "As we move closer to our public offering, this updated symbol represents the next step in our journey to revolutionize last-mile delivery through cutting-edge technology."
Arrive AI is preparing to end its latest crowdsourcing effort via PicMii soon, with the direct listing targeted for Q4 2024. The company will presumably be listed under the ticker "ARAI."
"We are getting closer to being listed on the Nasdaq and have been actively meeting with the SEC and investment bankers in New York to finalize our public offering. Going public is a critical step for us as we continue to expand our market presence and deliver our smart mailboxes to consumers and companies building autonomous delivery networks."
In recent months, Arrive has:
- Announced partnerships with: Hush Aerospace, HEI Integrated Systems, Joule Case and AtoZ Drone Delivery
- Rebranded from Dronedek to Arrive AI
- Demonstrated its smart mailbox in Indiana, Oklahoma and Michigan.
- Released an environmental study showing the ecological benefits of autonomous delivery.
- Partnered with first responders in Roane County, TN to test its emergency light system
Arrive AI initially planned to go public in July of 2024 through a merger agreement with Bruush. Arrive AI terminated the deal in June due to Bruush's failure to comply with Nasdaq listing requirements. Arrive AI is now entering the Nasdaq independently in a direct listing.
About Arrive: Headquartered in Indianapolis, Ind., Arrive AI is a pioneering technology company revolutionizing last-mile delivery and pickup. Founded by serial entrepreneur Dan O'Toole, Arrive AI addresses the evolving needs of autonomous drone and robotic delivery by unlocking the secure, seamless movement of goods and supplies between people, robots, and drones. The company's smart Mailbox-as-a-Service platform and infrastructure solutions empower Autonomous Delivery Networks (ADNs) to operate more efficiently with secure and climate-assisted cargo space, smart alerts, and chain of custody. Capabilities are accessible in apps, APIs, and processes that help partners and customers get the most out of conventional carriers, couriers, and ADNs. The company has raised more than $11 million over the last three years from 4,700 investors and forged strategic partnerships with many industry leaders. Learn more about Arrive AI's innovative solutions at Arrive's website.
Media Contact:
Cheryl Reed
Phone: 317-446-5240
Email: [email protected]
SOURCE Arrive AI
