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Oxford driverless vehicle startup Oxbotica secures £34M, gets backed by BP, Tencent

Picture credits: Oxbotica

Currently, the whole world awaits the arrival of reliable, sale and cost-effective self-driving cars. Oxford-based Oxbotica is a global leader in autonomous vehicle software. It is one of the pioneers in this industry.. Founded by Oxford University professors – Paul Newman and Ingmar Posner in 2014, this company has progressed from a robotics startup to a leading autonomy company in the world. Now, it has secured substantial funding to build off-road applications.

Deployment of autonomy software platform

In a recent move, Oxbotica announced that it secured $47M (nearly £34M) Series B funding. The funding comes from a slew of high-calibre global investors such as BGF, Halma, bp Ventures, HostPlus, IP Group, Venture Science Tencent and funds advised by Doxa Partners.

The company will use the investment to accelerate its commercial deployment of its world-class autonomy software platform across several key markets and industries. It intends to deploy its autonomy software in rolling out urban passenger transportation applications in the future.

Ozgur Tohumcu, CEO of Oxbotica, said: “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.”

Paul Newman, CTO 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: “bp ventures are delighted to invest in Oxbotica – we believe its 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.“

Jamie Vollbracht, Partner, Cleantech at IP Group plc said: “Oxbotica provides autonomy where it makes sense today: delivering safety, cost and environmental benefits. This substantial funding round will enable Oxbotica to move to the next stage, delivering those benefits in multiple applications across the globe.”

Leader in global autonomy ecosystem

Oxbotica’s product is a software platform providing Universal Autonomy. It enables fast to deploy, low energy, hassle-free, hardware agnostic autonomy. This is applicable to a vast array of vehicle types including both on and off road. Oxbotica’s advanced technology supports its unique horizontal B2B model and offers the autonomy functionality and flexibility needed by operators, integrators and manufacturers.

The financial and strategic investors in Australia, China, UK and US have helped Oxbotica hold a position at the centre of the global autonomy ecosystem.