Oxford-based Oxbotica raises £115m in investment round
Autonomous vehicle software specialist Oxbotica has raised £115m in a Series C investment round.
Oxbotica, part of the IP Group, is a pioneer in autonomous vehicle software development and aims to unlock the benefits of self-driving technology through its products which enable any vehicle to operate autonomously.
Kiko Ventures, IP Group's cleantech platform, supported the round which included financial and strategic partners from North America, EMEA and APAC, including new investors including Aioi Nissay Dowa Insurance Co., Ltd and ENEOS Innovation Partners and current shareholders bp ventures, BGF, Halma, Hostplus, Ocado Group, Tencent, Venture Science and ZF, amongst other global companies.
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The funding will drive Oxbotica's geographical expansion in North America, EMEA and APAC, and accelerate the deployment of its ground-breaking 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.
Following this week's announcement, Oxbotica has raised approximately US$225m to date.
Jamie Vollbracht, Founding Partner at Kiko Ventures, said: "Crucially, Oxbotica is deploying solutions in applications where there is a need for autonomy today. The systemic benefits of such autonomy solutions, and how they will radically improve the future of transportation, shouldn't be underestimated! We are delighted to be part of the journey with the team and congratulate the leadership on this substantial fundraise."
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