The proceeds from the funding round are expected to help the company deploy its operating system for Universal Autonomy in various commercial and industrial domains around the world
UK-based autonomous vehicle software company Oxbotica said that it has raised $140m in a Series C funding round.
The proceeds from the funding round are expected to help the company deploy its operating system for Universal Autonomy in various commercial and industrial domains across the globe.
The Series C funding round saw the participation of its financial and strategic partners from North America, Europe, the Middle East and Africa (EMEA), and Asia Pacific (APAC). It also included new investors such as ENEOS Innovation Partners and Aioi Nissay Dowa Insurance.
The existing Oxbotica’s shareholders who participated in the funding round include bp ventures, Halma, Hostplus, BGF, Ocado Group, Kiko Ventures (IP Group), Tencent, Venture Science, and ZF.
The autonomous vehicle software company has now raised about $225m in total.
Oxbotica CEO Gavin Jackson said: “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.
“We share a common purpose with our investors as well as our growing number of customers and partners to make the Earth move more safely, more sustainably and more efficiently. We’re invigorated by their confidence and are moving quickly to accelerate the benefits of autonomy for everyone.”
With the new funding, the company is expected to bolster its geographical expansion in North America, EMEA, and APAC.
Besides, Oxbotica anticipates to expedite the deployment of its autonomous operating system in various domains such as airports, energy, agriculture, mining goods delivery, and shared passenger transportation.
In February 2021, Oxbotica and BP completed an autonomous vehicle trial at the Lingen refinery in Germany.
The trial, which is claimed to be the world’s first in the energy sector, saw the vehicle travelling over 180km fully autonomously.