£14 million to support Oxbotica growth strategy
Silverpeak ran a full global process and provided Oxbotica with a choice of investment options
Who are they
Oxbotica is a universal autonomy software company. Following the mantra “any vehicle, any environment, any time”, its customers include:
- Driverless shuttle trials at Gatwick airport
- Driverless cargo pods at Heathrow airport
- Partnering with Addison Lee to bring self-driving taxis to London
- Other sectors in every hemisphere
The funding was to allow Oxbotica to scale its activities in Europe, Asia and the US market. The company’s customers include some of the world’s most prominent businesses in the aerospace, automotive, construction, logistics and mining sectors. Its software has been deployed across multiple industry-leading projects where the future application of autonomy is being trialled, including with Ocado, at Heathrow Airport and on major city streets.
What was our involvement
We worked with the company as lead advisor over six months. During this time, we identified and contacted potential investors across the globe.
Clive Scrivener, Chairman of Oxbotica, said: “Silverpeak ran a full process and provided us with a choice of investment options. We are delighted with the investment partners we have brought on board.”
Paddy MccGwire, the Managing Partner leading for Silverpeak, added: “It was a pleasure working with a world class team. We are very impressed with the way Oxbotica has been built so far, and this funding will unleash the next stage of its development. This is a truly exciting company.”
Paul Newman, Co-Founder of Oxbotica, said: “The domain-agnostic design of our technology, as well as its independence from external infrastructure, makes it suitable for a range of industries. This has allowed us to trade from day one, attracting a significant blue-chip customer base.
“Together with our customers and partners, my fellow founder Ingmar Posner and I look forward to taking our technology – and our products – to the next level.”
Graeme Smith, CEO of Oxbotica, said: “We’re on a mission to bring autonomous software to the world’s biggest markets. We have already seen extraordinary demand from a range of sectors.”
Gowling WLG, who have had a relationship with Oxbotica since the spin-out, were lawyers to the company.
IP Group is extremely excited about Oxbotica. The company’s highly differentiated approach unlocks a wealth of opportunities. Impressively, by winning substantial contracts with major customers, Oxbotica has been able to fund activities to date without the need for investment. IP Group is therefore delighted to have been selected by Oxbotica as its investment partner as it looks to capitalise on the next phase of growth. I’m very much looking forward to working with the rest of the board and wider team to help capture the many benefits of this technology for all stakeholders.