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StreetDrone seeking £2m investment to further develop autonomous driving tech

13 January 2023
The Business Magazine article image for: StreetDrone seeking £2m investment to further develop autonomous driving tech

Oxford-based StreetDrone, which has developed technology for autonomous driving for specialist vehicle manufacturers and fleet operators, is looking to raise up to £2 million to further develop its products.

Last June, StreetDrone completed a £5 million flagship project with Nissan at its Sunderland plant using StreetDrone’s full autonomy stack to deliver parts to their production line in a proof of concept.

The company has since secured a multi million deal with a global industrial customer to develop this into a fully autonomous operation by 2025.

The company has further contracts to supply new customers. Having been seeded by Wilko, one of the UK’s largest retailers, StreetDrone is led by a team drawn from Formula 1, Formula E and Expedia, who have previously delivered successful business exits and multiple motorsport world championships.

Technological and regulatory barriers need to be overcome before we see autonomous vehicles on the streets. The integration of autonomous EV vehicles in off-street, low-speed environments such as industrial plants, ports and distribution warehouses are paving the way forward.

As the global economy continues to expand, the demand for goods and services is increasing. That means more drivers are needed to transport those goods—but that’s becoming increasingly difficult as the pool of qualified drivers dwindles. To address this issue, companies are turning to autonomous logistics in order to streamline their supply chains and increase efficiency. Let’s take a closer look at how autonomous logistics can help your business.

The most obvious way autonomous logistics can help is by reducing labour costs through the use of autonomous trucks. Autonomous trucks are equipped with sensors, cameras, and other technology that allow them to navigate without a driver behind the wheel. This means you don’t have to worry about finding and hiring new drivers for your fleet —the truck itself does all the work! Plus, these vehicles can be monitored remotely from a central control centre, saving you time and money.

StreetDrone says that, globally, 150,000 off-highway logistics trucks move nearly 1 billion containers every year and it is focusing on this sector to bring the benefits of driverless technologies to market. Their technologies unlock autonomy for OEM vehicle manufacturers and seamlessly integrate retrospectively with fleet operators.

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.

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