Oxbotica, a pioneer in autonomous vehicle software, today announced that it has raised US$140 million in Series C funding in order to develop its operating system for Universal Autonomy across multiple commercial and industrial sectors globally. Before the investment round closes in a few months, more investors are expected to join, enabling the Series C capital to satisfy the rising demand from both new and existing shareholders.
Along with new investors including ENEOS Innovation Partners and Aioi Nissay Dowa Insurance Co., Ltd., the investment round also includes financial and strategic partners from North America, EMEA, and APAC. bp ventures, BGF, Halma, Hostplus, Kiko Ventures (IP Group), Ocado Group, Tencent, Venture Science, and ZF are a few of the current owners of Oxbotica who are reinvesting. Following today’s news, Oxbotica has raised approximately US$225 million to far.
The most recent commitments demonstrate that investors continue to have faith in Oxbotica’s Universal Autonomy vision, which enables any vehicle, regardless of size or location, to operate autonomously, safely, and sustainably. They also demonstrate that investors continue to have faith in the company’s history of ground-breaking innovations, which have significantly advanced the commercialization of AV technology. Among these are a cooperative partnership with the insurance sector and the first zero-occupancy trial in Europe in May 2022 on a route that is open to the public.
Gavin Jackson, CEO of Oxbotica, said: “This landmark investment from world-class investors is a tremendous validation of our strategy to apply self-driving technology where there is persistent and urgent demand—in supply chains, industrial sectors and in decongesting our cities.
We share a common purpose with our investors as well as our growing number of customers and partners to make the Earth move more safely, more sustainably and more efficiently. We’re invigorated by their confidence and are moving quickly to accelerate the benefits of autonomy for everyone.”
Paul Newman, CTO and a Founder of Oxbotica, said: “Oxbotica was founded eight years ago on the vision of Universal Autonomy™—providing safe and sustainable autonomy that is independent of workplace and vehicle type. With the greatest engineering talent and experience, using the best of AI, robotics and the metaverse, we are delivering on that promise to create value for our customers, our communities and our planet. We welcome our new investors who share our bold vision to redefine the role of the human in the operation of vehicles.”
Mitsuru Yamaguchi, Senior Managing Executive Officer at Aioi Nissay Dowa Insurance Co., Ltd, said: ‘Oxbotica really sets itself apart from its competitors thanks to its ambitious vision to unlock Universal Autonomy™. We are excited to combine Oxbotica’s world-class AI and robotic techniques with our own pioneering expertise in the telematics insurance arena. This will leave us well placed to develop innovative insurance products and services which will create a safer, greener and more secure society for everyone.”
Erin Hallock, Managing Partner at bp ventures, said: “We are excited to grow our investment in Oxbotica, which has become a global leader in autonomous vehicle software. Our sustained support is a great example of bp ventures’ continued investment in game-changing technology companies. By leveraging automation and digital technology we believe the team can improve safety and increase efficiency across a wide range of vehicles, and support bp’s ambition to accelerate the global revolution in mobility.”
Oxbotica not only pulls elite investors but also industry-defining clients and partners, such Ocado Group, with whom it is collaborating on autonomous product delivery to fulfill customer orders.
In 2024, Oxbotica, in partnership with Applied EV, bp, NEVS, and ZF, will offer autonomous passenger shuttles and sector-specific vehicles. To boost safety and sustainability while lowering operating costs, Oxbotica is bringing open autonomy to mining in collaboration with Wenco International Mining Systems Ltd.
The first funding for the ground-breaking technology developed by Oxbotica came from the UK government’s Centre for Connected and Autonomous Vehicles.
The UK government’s Centre for Connected and Autonomous Vehicles supplied the initial funding for Oxbotica’s groundbreaking technologies.