Oxbotica a global leader in autonomous vehicle software has secured nearly £34M in backing from global investors.
Oxbotica, founded by Oxford University professors – Paul Newman and Ingmar Posner in 2014, has announced that it secured $47M (nearly £34M) Series B funding. The funding comes from a slew of high-calibre global investors such as BGF, Halma, bp Ventures, HostPlus, IP Group, Venture Science Tencent and funds advised by Doxa Partners.
The company will use the investment to accelerate its commercial deployment of its world-class autonomy software platform across several key markets and industries. It intends to deploy its autonomy software in rolling out urban passenger transportation applications in the future.
Paul Newman, CTO and Founder of Oxbotica, said: “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).”
Speaking about their investment in the company, Erin Hallock, bp ventures managing partner, said: “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.“
Oxbotica’s product is a software platform providing Universal Autonomy. It enables fast to deploy, low energy, hassle-free, hardware agnostic autonomy. This is applicable to a vast array of vehicle types including both on and off road. Oxbotica’s advanced technology supports its unique horizontal B2B model and offers the autonomy functionality and flexibility needed by operators, integrators and manufacturers.