Home / Technology / Oxa Secures $103M for Industrial Autonomy
Oxa Secures $103M for Industrial Autonomy
4 Mar
Summary
- Oxa raised $103 million to scale autonomous vehicle operations.
- Funding targets ports, airports, and warehouses.
- Company focuses on industrial mobile autonomy over passenger cars.
British self-driving startup Oxa announced on Wednesday that it has raised $103 million from investors. This significant funding will be utilized to scale up the company's autonomous vehicle operations, with a strategic focus on industrial environments like ports, airports, and warehouses.
The funding round, designated as Series D, saw $50 million contributed by the UK's National Wealth Fund. Additional investments came from prominent entities, including the venture capital arm of chipmaker Nvidia, NVentures, and BP's venture capital division, bp Ventures.
Oxa differentiates itself by concentrating on "industrial mobile autonomy," a niche identified by founder Paul Newman as having less complexity compared to the passenger car sector due to reduced traffic and pedestrian interaction. The company designs both the software and hardware for its autonomous solutions.
With this latest infusion of capital, Oxa's total funding now exceeds $250 million. The funds are earmarked for expanding operations with existing customers such as DHL and BP, and for deploying Oxa's technology in upcoming projects that are yet to be announced.
This development follows a substantial funding round for another British self-driving startup, Wayve, which recently announced $1.2 billion in Series D funding for its work on robotaxis and driver-assistance technology.
