Oxbotica’s $47M Funding Fuels Industrial Autonomous Vehicle Expansion
While consumer self-driving cars remain a future aspiration, Oxbotica, a leader in autonomous vehicle (AV) software, has secured $47 million in Series B funding to accelerate its focus on industrial applications. The Oxford-based startup aims to deploy its universal autonomy platform in sectors like mining, ports, and logistics—where autonomous technology is already in demand.
Strategic Investors and Deployment Plans
The funding round was led by bp ventures, the investment arm of energy giant BP, with participation from BGF, Halma, HostPlus, IP Group, Tencent, Venture Science, and Doxa Partners. Oxbotica plans to use the capital to expand deployments for industrial clients, with several projects slated to launch this year.
CEO Ozgur Tohumcu emphasized the immediate need for autonomy in industrial settings:
“Where is autonomy needed today? If you go to mines or ports, you can see vehicles in use already. We see a huge transformation happening in the industrial domain.”
A Shift Toward Industrial Autonomy
Founded in 2014 as a spinout from Oxford University, Oxbotica initially gained recognition for high-profile projects like providing sensor technology for NASA’s Mars Rover. Over time, the company refined its offerings into two core platforms:
- Selenium: Handles navigation, mapping, perception, and machine learning.
- Caesium: Manages fleet operations and data export.
CTO Paul Newman highlighted Oxbotica’s edge in efficiency:
“Our radar-based maps are 10 megabytes to cover a kilometer—far lighter than compe*****s. We aim to build a horizontal software platform like Microsoft’s.”
The company also collaborates with Cisco to tackle data transfer challenges in autonomous systems.
From On-Road Dreams to Off-Road Reality
Oxbotica’s journey hasn’t been without setbacks. A 2018 partnership with Addison Lee to launch self-driving taxis in London by 2021 was shelved after Addison Lee’s acquisition. Meanwhile, Project Endeavour, a UK government-backed initiative for urban AVs, remains ongoing.
Newman clarified the company’s agnostic approach:
“Industrial autonomy for ports and airports happens on the way to on-road autonomy. Our vision is ‘no atoms, just software’—compatible with any hardware platform.”
This strategy aligns with broader industry trends. For instance, UK-based FiveAI pivoted from building its own AV fleet to offering B2B software, mirroring Oxbotica’s asset-light model.
Looking Ahead
With $80 million raised to date, Oxbotica is poised for growth. While its valuation remains undisclosed, bp ventures’ Erin Hallock expressed confidence:
“Oxbotica’s software could accelerate the AV market, aligning with bp’s mission to drive mobility innovation.”
As industrial autonomy gains traction, Oxbotica’s flexible, hardware-agnostic platform positions it as a key player in the sector’s evolution.
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