Oxbotica has announced that it has raised US$140 million in Series C investment to deploy its operating system for Universal Autonomy in multiple commercial and industrial domains around the world.
The company has said that the Series C funding accommodates growing demand from new and current shareholders, with additional investors expected to sign on before the funding round closes in a few months.
The investment round is said to include financial and strategic partners from North America, EMEA and APAC, including new investors such as Aioi Nissay Dowa Insurance and ENEOS Innovation Partners.
Current shareholders who are reinvesting include bp ventures, BGF, Halma, Hostplus, Kiko Ventures, Ocado Group, Tencent, Venture Science and ZF, among other global companies. Oxbotica has raised approximately US$225 million to date.
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. We welcome our new investors who share our bold vision to redefine the role of the human in the operation of vehicles.”
The funding will hope to push forward 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, such as agriculture, airports, energy, goods delivery, mining and shared passenger transportation.
Gavin Jackson, CEO of Oxbotica, 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.”
The company has stated in their release that in partnership with Applied EV, bp, NEVS and ZF, autonomous passenger shuttles and industry-specific vehicles driven by Oxbotica will be launched in 2024. Additionally, together with Wenco International Mining Systems Ltd., Oxbotica is bringing the benefits of open autonomy to mining to improve safety and sustainability combined with lower operational costs.
Press release and picture: Oxbotica