"Oxa, founded in 2014, now focuses on the automation of repetitive industrial driving tasks, such as the towing and carrying of goods in ports, airports and factories. The latest investor round also includes capital from existing shareholders the London-listed IP Group, which invests in British tech companies, the Australian superannuation fund Hostplus and BP Ventures, the UK oil company's arm that backs innovative technologies."
"Paul Newman, Oxa's co-founder and chief technology officer and a robotics professor at the University of Oxford, said the company had exported passenger-carrying vehicle software to the US, used to transport 20,000 people, but had decided that that market was too complex, given regulatory uncertainty around road autonomy for passenger cars."
"We think the economics of that are very challenging for us. The economics of having a business in autonomy that works off-highway is cracking. Our vehicles are generalists and they can drive in all kinds of places."
Oxa, founded in 2014, has secured $103m in funding led by the UK's National Wealth Fund ($50m) and Nvidia's venture capital arm. The company develops autonomous driving software for industrial vehicles performing repetitive tasks in ports, airports, and factories. Additional investors include IP Group, Hostplus, and BP Ventures. Oxa previously pursued passenger vehicle autonomy in the US but shifted focus due to regulatory complexity and unfavorable economics. The company now emphasizes off-highway autonomy solutions, positioning its vehicles as generalists capable of operating in diverse environments. This investment strengthens the UK technology sector and supports Oxa's global expansion and robotics development.
Read at www.theguardian.com
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