University of Oxford’s autonomous driving software developer Oxbotica has secured $47m in a series B round featuring IP Group as well as several corporates.
Oxbotica, a UK-based autonomous vehicle software spinout from University of Oxford, raised £36m ($47m) in a series B round today featuring commercialisation firm IP Group.
BP Ventures, the corporate venturing arm of oil and gas company BP, led the round, while internet group Tencent and safety equipment conglomerate Halma also took part.
Investment company BGF, superannuation fund HostPlus, investment firm Venture Science and funds advised by Doxa Partners filled out the round, to which IP Group committed $5.5m.
Founded in 2014, Oxbotica has created hardware-agnostic software to provide autonomous driving functionality. It will use the series B capital to accelerate commercial deployment of its technology across multiple industries and geographies.
Jamie Vollbracht, partner, cleantech at IP Group, said: “Oxbotica provides autonomy where it makes sense today: delivering safety, cost and environmental benefits. Two years after IP Group’s first investment, we are delighted to be able to…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
