B2B autonomous vehicle platform developer Oxbotica has raised a further $140 million.
The Oxford-based firm plans to use the funds to advance its goal of creating “universal autonomy” around the world.
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.”
In May 2022, Oxbotica achieved Europe’s first zero-occupancy trial on a publicly accessible road. Oxbotica is aiming to deploy its first on-road business deployment in partnership with Ocado this year.
Gavin Jackson, CEO of Oxbotica, commented:
“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.”
New investors that took part in this latest funding round include Aioi Nissay Dowa Insurance Co., Ltd and ENEOS Innovation Partners. Existing shareholders who are re-investing include bp ventures, BGF, Halma, Hostplus, Kiko Ventures (IP Group), Ocado Group, Tencent, Venture Science, and ZF.
“We are excited to combine Oxbotica’s world-class AI and robotic techniques with our own pioneering expertise in the telematics insurance arena,” explained Mitsuru Yamaguchi, Senior Managing Executive Officer at Aioi Nissay Dowa Insurance.
“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.”