Oxbotica, a startup that provides an autonomous vehicle software platform, has raised $47m in a Series B funding round to accelerate commercial deployment in markets around the world.
The Oxford-headquartered company’s software platform can be integrated into a range of vehicle types, including robotaxis, autonomous mining vehicles and other industrial settings.
It says its software has ‘universal autonomy’, which means it can function without GPS, special road markings or third-party maps.
BP Ventures, the investing arm of oil and gas giant BP, led the Series B funding round. Halma, HostPlus, IP Group, Venture Science and Tencent also participated.
“Oxbotica provides autonomy where it makes sense today: delivering safety, cost and environmental benefits,” said Jamie Vollbracht, partner at IP Group.
“Two years after IP Group’s first investment, we are delighted to be able to welcome multiple value-adding investors to the share register. This substantial funding round will enable Oxbotica to move to the next stage, delivering those benefits in multiple applications across the globe.”
Founded in 2014 by Oxford University professors Paul Newman and Ingmar Posner, Oxbotica says its autonomous vehicle software is hardware agnostic and has low power consumption.
In October 2020 Oxbotica trialled six self-driving cars on the streets of Oxford as part of a government-backed research initiative.
Its technology has been trialled in driverless shuttles at Gatwick and Heathrow airports.
Ozgur Tohumcu, CEO of Oxbotica, said: “We are very excited about the amazing endorsement we have received from new and existing investors. 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.”