Oxbotica raises £35m to boost autonomous vehicle development

06/01/2021

Autonomous transport

Oxbotica has raised £35 million in a new round of investment to help roll out its autonomous vehicle software globally.

Global investors in the 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.

Since then, the company has grown from a UK robotics start-up to one of the world’s leading autonomy companies.

Newman, chief technology officer and founder of Oxbotica, said: “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).”

Erin Hallock, BP Ventures managing partner, said: “We believe Oxbotica’s software could accelerate the market for autonomous vehicles.

“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.”

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