Oxbotica raises $47 million cementing its position as a global leader in autonomous vehicle software, demonstrates the commercial viability of its universal autonomy software platform.
06 Jan 2021 | 4839 Views | By Autocar Professional Bureau
Oxbotica, a global autonomous vehicle software major, has completed $47 million Series B investment with partners across the globe led by bp ventures. The funding will accelerate its commercial deployment of its autonomy software platform across multiple industries and key markets, especially for rolling out urban passenger transportation applications in ...
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Oxbotica, a global autonomous vehicle software major, has completed $47 million Series B investment with partners across the globe led by bp ventures. The funding will accelerate its commercial deployment of its autonomy software platform across multiple industries and key markets, especially for rolling out urban passenger transportation applications in the future.
Investors from across the world, Australia, China, UK and the USA participated and included names like BGF, bp ventures, Halma, HostPlus, IP Group,Tencent, Venture Science, and funds advised by Doxa Partners.
Oxbotica’s product is a software platform providing Universal Autonomy. It is fast to deploy, low energy, hassle free, hardware agnostic autonomy and applicable to a vast array of vehicle types both on and off road. The advanced technology supports Oxbotica’s unique 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.
Ozgur Tohumcu, CEO of Oxbotica, said: “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.”
Erin Hallock, bp ventures managing partner and lead investor 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 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.