Autonomous vehicle software developer, Oxbotica, has completed a US$47 million Series B investment with partners across the globe, led by BP Ventures. The funding is intended to accelerate the commercial deployment of Oxbotica’s autonomy software platform across multiple industries and key markets for urban passenger transportation applications. Global investors in the investment round include BGF, BP Ventures, Halma, HostPlus, IP Group, Tencent, Venture Science, and funds advised by Doxa Partners.
Oxbotica was founded in 2014 by Oxford University professors, Paul Newman and Ingmar Posner. The company has developed a software platform, claimed to be fast to deploy for low energy, hardware-agnostic autonomy and applicable to a wide range of vehicle types, both on and off road. The technology supports Oxbotica’s horizontal B2B model, providing operators, integrators and manufacturers with autonomy functionality and flexibility. be that a full stack or on a component-by-component basis.
Ozgur Tohumcu, CEO of Oxbotica, stated, “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.”
Paul Newman, CTO and founder of Oxbotica, added: “We have a vision, we have the technology, we have the team, we see the markets and we have the customers. 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).”
“We believe this software could accelerate the market for autonomous vehicles,” added Erin Hallock, BP Ventures’ managing partner. “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.“