Oxbotica, a global leader in autonomous vehicle software, announced today that it has raised $140 million in Series C investment. The funding will be used to deploy its operating system for Universal Autonomy™ in multiple commercial and industrial domains around the world.
The Series C funding round includes financial and strategic partners from North America, EMEA, and APAC. New investors include Aioi Nissay Dowa Insurance Co., Ltd, and ENEOS Innovation Partners, while current shareholders who are re-investing include bp ventures, BGF, Halma, Hostplus, Kiko Ventures (IP Group), Ocado Group, Tencent, Venture Science, and ZF, among other global companies. With this new funding, Oxbotica has raised approximately $225 million to date.
The funding will be used to accelerate Oxbotica’s geographical expansion in North America, EMEA, and APAC, and accelerate the deployment of its autonomy operating system in domains where there is both urgent need and potential to scale. These domains include agriculture, airports, energy, goods delivery, mining, and shared passenger transportation.
The latest commitments from investors signal confidence in Oxbotica’s vision for Universal Autonomy™. The goal of this vision is for any vehicle, of any size, in any place to operate autonomously, safely and sustainably. This vision is supported by Oxbotica’s proven record of breakthrough innovations which represent vital advances in commercializing AV technology. These innovations include Europe’s first zero-occupancy trial on a publicly accessible road in May 2022, metaverse-based testing, and collaborative alliances with the insurance sector, among others.
“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,” said Gavin Jackson, CEO of Oxbotica.
Paul Newman, CTO and a Founder of Oxbotica, said, “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.”
Mitsuru Yamaguchi, Senior Managing Executive Officer at Aioi Nissay Dowa Insurance Co., Ltd, said, “Oxbotica really 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 own pioneering expertise in the telematics insurance arena. This will leave us well placed to develop innovative insurance products and services which will create a safer, greener and more secure society for everyone.”
Erin Hallock, Managing Partner at bp ventures, said, “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.”
