The Oxford-based startup Oxbotica wants to shift the ground with the help of technology. As investor trust in the market demand increases, the business has recently raised a further €130 million in funding.
The Series C round investment brings total funding to date to over €209 million.
Financial and strategic partners from North America, EMEA, and APAC, including new investors like ENEOS Innovation Partners and Aioi Nissay Dowa Insurance Co. Ltd., led the round.
bp ventures, BGF, Halma, Hostplus, Kiko Ventures (IP Group), Ocado Group, Tencent, Venture Science, and ZF are some of the current shareholders who are reinvesting.
Autonomous vehicles are a rapidly developing area of technology, and as interest in and demand for self-driving cars increases, so does the need for software that can keep up with these developments and keep people safe.
Oxbotica, a company with offices in Oxford and Toronto, seeks to make autonomous technology useful to individuals and organizations all around the world.
To expand its operating system into numerous commercial and industrial domains throughout the globe, including critical services like agriculture, airports, energy, commodities distribution, mining, and shared passenger transportation, the business has acquired further funding.
The CEO of Oxbotica, Gavin Jackson, stated: “This historic investment from renowned investors is a wonderful endorsement of our plan to use self-driving technology where there is persistent and urgent demand—in supply chains, industrial sectors, and in decongesting our cities.”
Gavin continued, “Making the Earth move more securely, sustainably, and effectively is a goal we share with our investors, as well as a growing number of our clients and partners. We are energized by their assurance and working swiftly to hasten the advantages of autonomy for everyone.
“Oxbotica has formed eight years ago on the goal of Universal Autonomy—providing safe and sustainable autonomy that is independent of workplace and vehicle type,” stated Paul Newman, CTO and one of the company’s founders.
Paul further added, “We are delivering on our pledge to generate value for our customers, our communities, and our planet by utilizing the best engineering skills and experience, the best AI, robots, and the metaverse. We warmly welcome new investors who share our audacious goal of redefining the function of people in the operation of automobiles.”
Oxbotica, a company that develops software for autonomous driving, was founded in 2014 by Oxford professors Paul Newman and Ingmar Posner. By bringing the advantages of self-driving technology to every individual and every organization on the planet, the company hopes to change how the earth moves.
Oxbotica Driver, Oxbotica Cloud, and Oxbotica MetaDriver, the company’s current product suite, are allowing Universal Autonomy, which refers to the ability of any vehicle, regardless of size or location, to operate independently and sustainably. Oxbotica offers consumers choices in how to implement the technology to meet their specific needs thanks to its open, modular, and customizable operating system for autonomy.
This investment demonstrates confidence in the market for autonomous vehicles and, given its timing at this point in the year, raises the possibility that autonomous driving will become a significant trend in the mobility industry as a whole.
Additionally, it shows how Oxbotica’s technology has evolved, including advancements that are essential for the commercialization of AV technology. These include, among other things, cooperative cooperation with the insurance industry and Europe’s first zero-occupancy trial in May 2022 on a publicly accessible route.
Aioi Nissay Dowa Insurance Co., LtdSenior .’s Managing Executive Officer, Mitsuru Yamaguchi, stated: “Oxbotica distinguishes itself from its rivals thanks to its bold concept unlock Universal Autonomy.”
“We are thrilled to combine Oxbotica’s cutting-edge robotics and AI technologies with our own innovative telematics insurance knowledge. This will put us in a great position to offer new insurance services and products that will make everyone’s society safer, greener, and more secure, Mitsuru continued.
The new information will help Oxbotica expand geographically into North America, EMEA, and APAC and speed up the rollout of its operating system.
Additionally, in 2024, Oxbotica-powered autonomous passenger shuttles and industry-specific vehicles will debut in collaboration with Applied EV, bp, NEVS, and ZF.
“We are thrilled to extend our investment in Oxbotica, which has emerged as a global leader in autonomous car software,” said Erin Hallock, Managing Partner at bp Ventures. An excellent illustration of bp ventures’ ongoing investment in game-changing technological firms is our ongoing support.”
Erin Hallock went on to say, “We think the team can enhance efficiency and safety across a variety of vehicles by utilizing automation and digital technologies, and we believe this will assist bp’s goal of accelerating the global revolution in mobility.
Image Credit: Oxbotica