LONDON: Self-driving software startup Oxbotica has raised US$140 million from investors to speed deployment of autonomous vehicles (AVs) in areas including heavy industry, ports and airports. The Series C round includes funding from new investors including Japanese insurer Aioi Nissay Dowa Insurance, the v
LONDON: Self-driving software startup Oxbotica has raised US$140 million from investors to speed deployment of autonomous vehicles in areas including heavy industry, ports and airports.
It also includes fresh funding from existing investors including Tencent and the venture capital arm of BP, as well as Kiko Ventures, the clean tech investment platform of IP Group and Oxbotica's first institutional investor. The startup is working on specific applications for strategic investors. These include AVs for remote BP locations, a people mover for German auto parts supplier ZF Friedrichshafen and for last-mile delivery by British online supermarket and technology group Ocado.Ford Motor Co said in October that it was winding down its Argo AI self-driving business, saying robotaxis were still too far off to continue investing.
Once regulations catch up with the industry, the company will start running tests on limited routes for Ocado in 2025, Jackson said.
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