Oxbotica, a UK firm that develops autonomous vehicle software, has raised $140 million in a Series C investment round in order to fund its expansion globally.
(Bloomberg) — Oxbotica, a UK firm that develops autonomous vehicle software, has raised $140 million in a Series C investment round in order to fund its expansion globally.
The round included funding from existing shareholders, including BP Plc’s ventures arm, industrial technology firm Halma Plc and Tencent Holdings Ltd., the company said in a statement Wednesday. New investors, such as Aioi Nissay Dowa Insurance Co., Ltd and ENEOS Innovation Partners, also participated.
“This investment is ultimately bucking the trend a little bit for self-driving technologies,” Oxbotica Chief Executive Officer Gavin Jackson said by phone. “We believe the reason is we are an operating system for universal autonomy.”
Oxbotica mainly serves industrial customers, such as mining companies that use the software to maneuver fleets around unpredictable terrain. It offers technology that uses cameras, sensors and radars and doesn’t require access to maps or GPS.
The company has raised about $225 million to date.
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