BGF backs autonomous vehicle software leader Oxbotica
BGF has announced the investment of £6 million in Oxford-headquartered Oxbotica – a global leader in autonomous vehicle software as part of a $47 million funding round.
The funding will accelerate Oxbotica’s commercial deployment of its world-class autonomy software platform across multiple industries and key markets. The news is an endorsement of Oxbotica’s go-to-market strategy, deploying their autonomy software in industrial use cases in advance of urban passenger transportation applications.
The investment is global, with additional backing from a consortium of investors, including bp ventures, Halma, HostPlus, IP Group, Tencent, Venture SCIENCE, and funds advised by Doxa Partners. With financial and strategic investors in Australia, China, the UK and the USA, Oxbotica is placed at the centre of a global autonomy ecosystem.
Oxbotica was founded in 2014 by Oxford University professors, Paul Newman and Ingmar Posner. Since then, the company has grown from a UK robotics start-up to one of the world’s leading autonomy companies.
Oxbotica’s product is a software platform providing Universal Autonomy. The autonomy is fast to deploy, low-energy, hassle-free and hardware agnostic, so can be used in a vast array of on and off-road vehicle types.
Ozgur Tohumcu, CEO of Oxbotica, said: “We are very excited about the support we have received from new and existing investors. This investment round 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 supports our position as a truly international autonomy company that will support the global deployment of our transformative technology.”
Greg Norman, investor at BGF led the deal alongside Elliot Vickerstaff.
Greg Norman said: “We are delighted to have completed this investment, and to welcome Oxbotica into the BGF portfolio. Oxbotica’s pioneering technology represents true innovation in the sector and we are thrilled to support them on their growth journey.
“It’s a very exciting time for the business as they continue to grow and accelerate the commercial deployment of their innovative software solution. Oxbotica have a talented and dedicated team with a strong performance history, and we greatly look forward to continue to work with them as the business expands.”
Business funding news
BGF leads £2.5m investment round into sustainable female underwear brand Stripe & Stare
BGF has led a £2.5 million investment round into sustainable female underwear brand, Stripe & Stare, alongside a consortium of…
BGF successfully realises stake in AI-driven adtech platform LoopMe
BGF has announced a successful partial exit of LoopMe – a leading brand-focused mobile advertising platform. The business has been…