Oxford-based Oxbotica will use the funding to accelerate commercial deployment of its autonomy software platform across multiple industries and key markets.
Oxbotica, a UK-based autonomous vehicle software company, has secured $47m in venture capital funding to help deploy its autonomy software platform around the world. The series B investment round was led by BP Ventures with partners across the globe including from Australia, China, UK, and the US.
Oxbotica said it will use the funding to accelerate Oxbotica’s commercial deployment of its autonomy software platform across multiple industries and key markets.
According to Oxbotica, the backing is an endorsement of its 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.
“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,” said Ozgur Tohumcu, CEO of Oxbotica.
“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.”
Oxbotica’s product is a software platform providing “universal autonomy” where the software works with any vehicle, any time, and in any place. The company claims it is fast to deploy, low energy, offers hardware-agnostic autonomy and is applicable to a vast array of vehicle types both on and off road.
“This round of investment marks a key chapter in Oxbotica’s continued growth and pushes us forward in commercialising our autonomous software”
The technology supports Oxbotica’s horizontal B2B model providing operators, integrators and manufacturers the autonomy functionality and flexibility they need – be that a full stack or on a component-by-component basis.
“BP Ventures [is] delighted to invest in Oxbotica – we believe its software could accelerate the market for autonomous vehicles,” said Erin Hallock, managing partner, BP Ventures.
“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 was founded in 2014 by Oxford University professors, Paul Newman and Ingmar Posner. Since then, the company has grown from a UK robotics start-up to one of the world’s leading autonomy companies.
“We have a vision, we have the technology, we have the team, we see the markets and we have the customers,” added Paul Newman, CTO and founder of Oxbotica.
“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).”
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