The funding is intended to accelerate Oxbotica’s commercial deployment of its autonomy software platform across multiple industries and key markets.
Global investors in the round include 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, hardware agnostic autonomy and applicable to a vast array of vehicle types both on and off road. The advanced technology supports Oxbotica’s horizontal B2B model which provides operators, integrators and manufacturers with the autonomy functionality and flexibility they require, whether that is a full stack or on a component-by-component basis.
Ozgur Tohumcu, CEO of Oxbotica, said, “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.
"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.”
“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).”
Commenting 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 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.
