- Oxbotica — a global leader in autonomous vehicle software — announced it has raised $47 million in Series B funding. These are the details.
Oxbotica — a global leader in autonomous vehicle software — announced it has raised $47 million in Series B funding with a number of partners around the world led by bp ventures. Other investors in the round include BGF, Halma, HostPlus, IP Group,Tencent, Venture Science, and funds advised by Doxa Partners. And with financial and strategic investors in Australia, China, UK, and the USA, Oxbotica is placed at the center of a global autonomy ecosystem.
Oxbotica’s product is a software platform providing Universal Autonomy. And it is fast to deploy, low energy, hassle-free, hardware-agnostic autonomy, and applicable to a wide range of vehicle types both on and off-road. This advanced technology supports Oxbotica’s unique horizontal B2B model providing operators, integrators, and manufacturers the autonomy functionality, and flexibility they need.
Oxbotica was launched in 2014 by Oxford University professors Paul Newman and Ingmar Posner. And since then, the company has grown from a UK robotics start-up to one of the world’s leading autonomy companies.
This round of funding will accelerate Oxbotica’s commercial deployment of its world-class autonomy software platform across multiple industries and key markets. And the news is an endorsement of Oxbotica’s go-to-market strategy, deploying its autonomy software in industrial use cases in advance of rolling out in urban passenger transportation applications in the future.
KEY QUOTES:
“We are very excited about the amazing endorsement we have received from new and existing investors. This round of investment marks a key chapter in Oxbotica’s continued growth and pushes us forward in commercialising our autonomous software today, through key strategic go-to-market partnerships. The high-quality and global footprint of our investors cements our position as a leader in autonomy. We will use funds raised to accelerate the global deployment of our transformative technology.”
— Ozgur Tohumcu, CEO of Oxbotica
“We have a vision, we have the technology, we have the team, we see the markets and we have the customers. Adding these high quality investors to this mix, means we can continue to accelerate Oxbotica, and change the way bits (software) move atoms (people and goods).”
— Paul Newman, CTO and Founder of Oxbotica
“bp ventures are delighted to invest in Oxbotica – we believe its software could accelerate the market for autonomous vehicles. Helping to accelerate the global revolution in mobility is at the heart of bp’s strategy to become an integrated energy company focused on delivering solutions for customers.“
— Erin Hallock, bp ventures managing partner
“Oxbotica provides autonomy where it makes sense today: delivering safety, cost and environmental benefits. Two years after IP Group’s first investment, we are delighted to be able to welcome multiple value-adding investors to the share register. This substantial funding round will enable Oxbotica to move to the next stage, delivering those benefits in multiple applications across the globe.”
— Jamie Vollbracht, Partner, Cleantech at IP Group plc
