UK autonomous vehicle software company Oxbotica has secured US$47m (£34.5m) in a Series B investment round to support the development and commercialisation of its autonomy platform.
The Oxford University spin-out said it aims to deploy its autonomy software in industrial use cases before rolling out the technology in urban passenger transportation applications in the future.
According to Oxbotica, its software platform is fast to deploy, low energy, hassle free, hardware agnostic autonomy and applicable to an array of vehicle types both on and off road.
Furthermore, the technology supports Oxbotica’s horizontal B2B model, which is designed to provide operators, integrators and manufacturers with autonomy functionality and flexibility, including full stack or on a component-by-component basis.
The investment round included support from BGF, BP Ventures, Halma, HostPlus, IP Group, Tencent, Venture Science, and funds advised by Doxa Partners.
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.
“The high-quality and global footprint of our investors cements our position as a leader in autonomy. We will use funds raised to accelerate the global deployment of our transformative technology.”
As previously reported by CiTTi, Oxbotica reached a key commercial deployment milestone in August 2020 when it trialled its technology in Germany.
