LONDON, UK: IP Group plc introduced that portfolio firm Oxbotica Ltd, the worldwide chief in autonomous vehicle software, has raised $140 million in a Series C funding round.
Kiko Ventures, IP Group’s cleantech platform, supported the spherical which included monetary and strategic companions from North America, EMEA and APAC, together with new investors together with Aioi Nissay Dowa Insurance Co., Ltd and ENEOS Innovation Partners and present shareholders bp ventures, BGF, Halma, Hostplus, Ocado Group, Tencent, Venture Science and ZF, amongst different global companies. Following today’s announcement, Oxbotica has raised roughly US$225m to date.
The funding will drive Oxbotica’s geographical expansion in North America, EMEA and APAC, and speed up the deployment of its ground-breaking autonomy working system in domains the place there is each pressing want and potential to scale, such as agriculture, airports, energy, items delivery, mining and shared passenger transportation.
As beforehand introduced on 02 December 2022, IP Group recorded a net unrealised fair worth gain of roughly £36m or roughly 4p per share following the primary shut of the round. IP Group dedicated £4.2m to the funding round. Parkwalk, IP Group’s wholly owned EIS fund manager, has additionally invested £9.9m in Oxbotica to date.
Jamie Vollbracht, Founding Partner at Kiko Ventures, said: “Crucially, Oxbotica is deploying options in applications the place there’s a necessity for autonomy today. The systemic advantages of such autonomy solutions, and the way they will radically enhance the way forward for transportation, shouldn’t be underestimated! We are delighted to be a half of the journey with the team and congratulate the management on this substantial fundraise.”
Moray Wright, CEO at Parkwalk Advisors, said: “We are completely delighted to see Oxbotica raise the funding required to fulfil their commercial opportunities. The team’s distinctive technology and structure has a number of applications which is why Parkwalk joined forces with IP Group’s cleantech team to lead the Seed and Series A funding rounds in 2018 and 2019 respectively.”
Oxbotica is a global chief in autonomous vehicle software program for companies and goals to unlock the advantages of self-driving technology to each person and each organisation on the planet. Oxbotica’s suite of merchandise (Oxbotica Driver™, Oxbotica Cloud™, and Oxbotica MetaDriver™) is enabling Universal Autonomy™: the ability of any vehicle, of any size, in any location to function autonomously, safely, and sustainably.