Ocado will provide $13.8m in a series B extension that follows a $47m close in January.
Oxbotica, a UK-based autonomous vehicle software spinout from University of Oxford, has secured a £10m ($13.8m) commitment in a series B extension from grocery delivery service Ocado.
Oxbotica raised $47m in a first tranche featuring commercialisation firm IP Group in January 2021. BP Ventures, the corporate venturing arm of oil and gas company BP, led that close, 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 initial series B tranche.
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.
Oxbotica had secured a total of $24m as of September 2019, according to a securities document.
The spinout previously closed an $18.5m funding round in 2018 led by IP Group, with participation from the latter’s fund management arm Parkwalk Advisors, and Axa XL, a specialty risk division of insurance firm Axa.
