SELF-DRIVING SOFTWARE FIRM, OXBOTICA SECURES $47MN IN SERIES B FUNDING

Oxbotica, a U.K. based autonomous vehicle software startup, has reportedly picked up USD 47 million Series B investment led by BP Ventures- an investment arm of oil and gas major- BP. Apparently, the funding round also saw participation from prominent names like HostPlus, Halma, Venture Science, IP Group, and Doxa Partners.

The raised funds are expected to be used by Oxbotica to accelerate the commercial deployment of the company’s autonomy software platform across various industries and key markets such as port logistics, mining, and more. Oxbotica is also working towards rolling out urban passenger transportation applications in the coming times.

Established in the year 2014, the company was originally a spinout from Oxford University co-founded by academicians Ingmar Posner and Paul Newman- Where Newman is the CTO of the company, while Posner is an Artificial Intelligence professor at Oxford.

The firm started -off with Addison Lee- a London-based car service in the year 2018, with plans to launch its first cars on the road by 2021. However, the project later shut down. In the past, Oxbotica has added many high-profile projects to its hat- such as Nasa’s Mars Rover project where it offered advanced sensor technology.

It is worth mentioning that, the company’s offering is a software platform providing Universal Autonomy. It is hassle-free, low-energy, and fast to deploy hardware-agnostic autonomy and applicable to both on and off-road vehicle variants.

Notably, this advanced technology extends support to the British startup’s unique horizontal B2B model offering operators, manufacturers, and integrates the autonomy functionality, and flexibility that they need.

Today, the company offers two main platforms, namely Selenium and Caesium, which covers mapping, machine learning, navigation, perception, data export, and fleet management.

According to reports, Oxbotica has raised nearly USD 80 million to date and aims at strengthening its position in the autonomous vehicle industry through effective partnerships and investments in the near future.

Source Credit: https://techcrunch.com/2021/01/05/oxbotica-raises-47m-to-deploy-its-autonomous-vehicle-software-in-industrial-applications/