Oxbotica, an Oxford and Toronto-based autonomous vehicle software firm, has raised $140M in a Series C funding round from financial and strategic partners from North America, EMEA, and APAC.
New investors like Aioi Nissay Dowa Insurance Co., Ltd and ENEOS Innovation Partners, along with current shareholders bp ventures (also backed Flylogix and Freebee), BGF, Halma, Hostplus, Kiko Ventures (IP Group), Ocado Group, Tencent, Venture Science, and ZF, also participated in the round.
The company will use the funds to accelerate its geographical expansion in North America, EMEA, and APAC.
Oxbotica will also use the funds to deploy its autonomous operating system in domains with urgent need and potential to scale, like agriculture, airports, energy, goods delivery, mining, and shared passenger transportation.
Autonomous vehicle software
Founded in 2014 by Oxford professors, Paul Newman and Ingmar Posner, Oxbotica developed autonomous vehicle software for businesses, giving any vehicle, of any size, in any location the ability to operate autonomously.
The company’s suite of products consists of
- Oxbotica Driver
- Oxbotica Cloud
- Oxbotica MetaDriver
Since the operating system for autonomy is open, modular, and customisable, Oxbotica provides customers with complete flexibility on how to deploy the technology to suit their unique needs.
The company already made Europe’s first zero-occupancy trial on a publicly accessible road in May 2022.
In partnership with Applied EV, bp, NEVS, and ZF, autonomous passenger shuttles and industry-specific vehicles driven by Oxbotica will be launched in 2024.
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.”
He adds, “We share a common purpose with our investors and our growing number of customers and partners to make the Earth move more safely, sustainably, and 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, says “Oxbotica was founded eight years ago on the vision of Universal Autonomy™—providing safe and sustainable autonomy 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, says, ‘Oxbotica 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 pioneering expertise in the telematics insurance arena. This will leave us well placed to develop innovative insurance products and services, creating a safer, greener, and more secure society for everyone.”