Autonomous vehicle software developer Oxbotica has raised US$140m (£115m) in Series C investment to drive its global expansion and accelerate commercialisation of its technology.
The investment round includes financial and strategic partners from North America, Emea and Apac, including new investors such as Aioi Nissay Dowa Insurance Company and Eneos Innovation Partners.
Current Oxbotica shareholders which are re-investing include BP Ventures, BGF, Halma, Hostplus, Kiko Ventures (IP Group), Ocado Group, Tencent, Venture Science and ZF, among other global companies. Following today’s announcement, Oxbotica has raised approximately $225m to date.
Shared passenger transportation
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.
Oxbotica reports the latest commitments signal continuing investor confidence in its vision for Universal Autonomy – the ability of any vehicle, of any size, in any place to operate autonomously, safely and sustainably – and its proven record of breakthrough innovations which represent vital advances in commercialising AV technology.
These include Europe’s first zero-occupancy trial on a publicly accessible road in May 2022, metaverse-based testing and collaborative alliances with the insurance sector, among others.
“This landmark investment from world-class investors is a tremendous validation of our strategy to apply self-driving technology where there is persistent and urgent demand – in supply chains, industrial sectors and in decongesting our cities,” said Gavin Jackson, CEO of Oxbotica.
“We share a common purpose with our investors as well as our growing number of customers and partners to make the Earth move more safely, more sustainably and more efficiently. We’re invigorated by their confidence and are moving quickly to accelerate the benefits of autonomy for everyone.”
Read more: smartcitiesworld.net
Source: IOT NETWORK NEWS
