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Oxbotica Raises $140 Million to Deploy Self-Driving Commercial Vehicles

Oxbotica raises another $140 million as it grows its B2B self-driving car platform.

Self-driving software startup Oxbotica has raised $140 million from investors to accelerate the deployment of autonomous vehicles (AVs) in heavy industry, ports and airports, among other areas.

The Series C round includes funding from new investors, including Japanese insurer Aioi Nissay Dowa Insurance, the venture capital arm of software company Trimble and Japanese oil refiner Eneos.

It also includes new funding from existing investors, including the venture capital arms of Tencent and BP, IP Group’s cleantech investment platform and Kiko Ventures, Oxbotica’s first institutional investor.

Oxbotica, which has raised a total of about $225 million to date, said it expects to sign on more investors before the funding round closes in a few months.

The startup is developing specific applications for strategic investors. These include AVs at remote BP locations, people movers from German auto parts supplier ZF Friedrichshafen and last-mile deliveries from UK online supermarket and technology group Ocado.

However, calls for robo-taxi apps have died down. Ford Motor Co said in October that it was winding down its Argo AI self-driving business, saying robo-taxis were too far away to continue investing.

Oxbotica CEO Gavin Jackson told Reuters that self-driving cars using the startup’s software will be used in the energy and agriculture sectors and private truck yards by 2023, followed by fixed-route passenger shuttles by 2024.

Once regulations catch up with the industry, Jackson said the company will begin testing Ocado on limited routes in 2025.

The company has customers in the mining, construction, agriculture, airports, ports and logistics, all of which require safe and reliable autonomous vehicles, he said.

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