British autonomous vehicle software company, Oxbotica, has raised $140 million in a Series C funding round to expand its deployment of its operating system, Universal Autonomy, in various commercial and industrial sectors around the world.
The funding will aid in the company’s global expansion into North America, EMEA and APAC and accelerate the implementation of its operating system in sectors with high scalability potential, such as agriculture, airports, energy, delivery, mining, and shared passenger transportation.
The round included new investors, such as Aioi Nissay Dowa Insurance and ENEOS Innovation Partners, as well as re-investments from current shareholders, including bp ventures, BGF, Halma, Hostplus, Kiko Ventures, Ocado Group, Tencent, Venture Science, and ZF. To date, Oxbotica has raised approximately $225 million.
Gavin Jackson, CEO of Oxbotica, says: “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, adds: “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.”
Erin Hallock, Managing Partner at bp ventures, comments: “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.”