This is the world’s FIRST smart mailbox!
AI has been a space of market euphoria on Wall Street in the last year. While AI has been with us for a long time, it came more into focus with the release of ChatGPT and similar apps in late 2022.
The S&P 500 entered a bull market this year and Bank of America economists noted that the move upwards was mostly because investors were buying into one singular equity: AI.
If there is any doubt that the AI boom is here, one just needs to look at Nvidia’s stock price this year. The company has been one of the biggest winners from the boom, exploding 245% in 2023, far outpacing any other member of the S&P 500.
A delivery robot is an autonomous robot that provides "last mile" delivery services. These robots use GPS technology to determine your location. They then map out the most efficient route so that they can get your products to you as quickly as possible.
Indianapolis-based smart-mailbox startup Arrive Technology Inc. plans to go public via a merger with Canada-based Bruush Oral Care Inc. (NASDAQ: BRSH) in a deal that is expected to close in the first quarter of 2024.
Arrive has developed a smart mailbox—a climate-controlled, secure receptacle—for deliveries made by drones, couriers, or robots!
The company is creating cutting-edge solutions that simplify and improve the delivery and pickup experience for everyone.
"The market is moving beyond deliveries and thinking about autonomous pickup and multi-modal networks. Arrive is the world's first MaaS infrastructure and platform for ADNs. It's the final piece of the autonomous logistics puzzle." – COO Mark Hamm
The combined company will operate under the Arrive name and will trade on the Nasdaq Capital Market under the ticker symbol “ARRV.”
Details of the Merger:
Once the merger closes, the combined company will be based in Indianapolis and will be led by Arrive’s existing management team, headed by CEO Dan O’Toole. A board of directors, likely made up of five people, will include one member selected by BRSH with Arrive making the rest of the selections.
The deal is structured as a reverse triangular merger via an all-stock transaction, but O’Toole said the merger will also provide Arrive with $10 million that is currently on BRSH’s balance sheet.
Before the merger closes, BRSH will do a reverse stock split within the range of 6-for-1 and 200-for-1. Reverse stock splits are a way for a company to increase the value of its existing shares. A 10-for-1 split, for instance, would turn 10 shares priced at $1 each into one share priced at $10.
Once the merger closes, Arrive shareholders will exchange those shares for shares in the new combined company.
Being a publicly traded company will raise Arrive’s profile among potential customers and investors and it also provides liquidity for Arrive’s existing investors. Arrive has raised about $9 million to date through three crowdfunding campaigns and a separate campaign for accredited investors.
“We’ve been working really hard behind the scenes to come to terms on this deal. This gives us funding to continue the vision of what we’re doing. This agreement and plan of merger will accelerate the development and deployment of our third-generation smart mailbox and continue to support the autonomous delivery revolution."
Arrive CEO Dan O'Toole
Arrive is the leading smart mailbox and Mailbox-as-a-Service (MaaS) provider with flexible solutions that can integrate into any autonomous delivery network (ADN). The company has 16 full-time employees and also works with a number of contractors.
The company’s innovative technology enables the seamless movement of packages and goods between people, robots, and drones across a network.
In recent years, the delivery industry has experienced a seismic shift with the emergence of autonomous delivery systems.
An autonomous delivery vehicle refers to a self-driving vehicle that's capable of delivering goods from retailers on its own without human mediation. What was once a futuristic concept has now become a reality that includes self-driving vehicles and drones offering reliable delivery solutions.
The global autonomous last mile delivery market size accounted for USD 3.47 billion in 2022 and it is anticipated to reach around USD 29.13 billion by 2032, poised to grow at a CAGR of 23.71% during the forecast period 2023 to 2032.
Arrive Point is the company’s flagship product and is focused on comprehensive package protection with a wide range of features to make logistics and package management easier.
The Arrive Point enables the frictionless pickup and delivery of packages in autonomous delivery networks (ADNs) between people, robots, and drones.
These smart and secure mailboxes, offer real-time notifications, climate-assist to maintain optimal cargo bay temperatures, and digital signature capabilities with a complete chain of custody.
Arrive Points are our flagship product, focused around comprehensive package protection with a wide range of features to make your logistics and package management easier.
The Arrive Bank is a collection of co-located Arrive Points working together within autonomous delivery networks (ADNs) to handle greater capacity.
This system of interconnected Arrive Points working in harmony offers a larger solution for customers needing more capacity than one smart mailbox acting as a network.
With Arrive Banks, you can manage multiple packages simultaneously and easily track deliveries and pickups with real-time notifications and archival data.
Offering all the same features as Arrive Points plus enterprise support, the Arrive Bank offers a scalable and adaptable solution for businesses of any size.
The Arrive Convey automates package movement between Arrive Points and buildings using an enclosed conveyor system.
Made for larger enterprises, the Arrive Convey is a special configuration allowing Arrive Points to feed a conveyor belt to move packages between Arrive Points and the enterprise’s facility.
With Arrive Convey, you can automate your entire package management system, unlocking deliveries and pickups from Arrive Points in and out of buildings using an integrated conveyor, especially useful for higher-volume medical operations, labs and hospitals, warehouses and fast-food restaurants.
The Arrive Package Tower accommodates a higher volume of deliveries and pickups between Arrive Points and the "package tower" through an internal carousel mechanism.
This multi-tenant solution is designed for business campuses, apartment buildings, and other similar settings. With its larger capacity, it can accommodate a higher volume of deliveries and pickups between Arrive Points and the "package tower" through an internal carousel mechanism. This carousel configuration ensures that packages are safely shuffled internally, enabling drone, robotic, and manned deliveries and pickups, all from a single multi-tenant solution.
The Arrive Package Tower offers a state-of-the-art package management solution that is both convenient and secure, providing your tenants, customers, or team with an exceptional experience.
Autonomous deliveries are a reality today, and the direction for tomorrow. The modern logistics ecosystem is increasingly powered by AI, and calls for a completely connected, highly intelligent solution to the last-mile challenge.
Getting stuck with outdated, limited technology will come with a significant cost and a serious competitive disadvantage.
The first Mailbox-as-a-Service (MaaS) platform, Arrive is a future-proof investment that delivers measurable returns for businesses and benefits for consumers.
BRSH CEO Aneil Manhas explained, “In a world hungry for a future of automated last-mile delivery, there is a critical need for a smart and secure exchange point, which Arrive is poised to redefine with its smart mailbox technology. Arrive's strong management team, robust IP portfolio and unique Mailbox-as-a-Service platform that integrates artificial intelligence (AI) and machine-learning capabilities, positions the company well to sit at the center of the autonomous delivery network in the evolving landscape of automated exchanges. We reviewed and evaluated numerous strategic alternatives for creating stockholder value and believe this transaction with Arrive presented the most compelling option for our shareholders."
The future movement of goods will happen between people, robots, and drones!
Breakthrough mailbox technology is aiming to change how mail and packages are delivered.
Arrive is teaming up with autonomous delivery services, such as Ottonomy to shape the future of autonomous ground robotic delivery and revolutionize how packages and mail are delivered to smart mailboxes securely and autonomously.
The company is providing innovative solutions for clients in the medical operations, healthcare, and large retail sectors. The market is robust and the company is offering a first!
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