Silverpeak advises Oxbotica on £14m funding round
Autonomous vehicle software company secures growth capital
Silverpeak acted as exclusive financial adviser to Oxbotica on a £14m funding round. Three leading investors backed the round: IP Group plc, Parkwalk Advisors, and AXA XL. Silverpeak worked with Oxbotica over six months to identify and contact potential investors globally. The process created a competitive selection of investment options.
About Oxbotica
Oxbotica is an autonomous vehicle software company based in Oxford. Professors Paul Newman and Ingmar Posner founded it in 2014. The software uses computer vision, machine learning, and artificial intelligence. It enables vehicles to operate without a driver in any environment and on any terrain. Customers include major businesses in aerospace, automotive, construction, logistics, and mining. Oxbotica has deployed its software at Heathrow Airport, with Ocado, and on major city streets.
How the funding will be used
Oxbotica will use the funding to scale its activities in Europe, Asia, and the US. The investment supports the next phase of the company’s growth strategy. It will also help Oxbotica grow its international presence and team.
What our clients said
Clive Scrivener, Chairman of Oxbotica, said: “Silverpeak ran a full process. They gave us a choice of investment options. We are delighted with the partners we have brought on board.”
Paddy MccGwire, Managing Partner at Silverpeak, said: “It was a pleasure working with a world-class team. We are impressed with how Oxbotica has been built. This funding will unlock the next stage of planned growth. It is a truly exciting company.”
Paul Newman, Co-Founder of Oxbotica, said: “Our technology is domain-agnostic and independent from external systems such as GPS. This makes it versatile across many industries. It has also allowed us to trade from day one and build a strong customer base. Together with our partners, we look forward to taking our technology to the next level.”
Graeme Smith, CEO of Oxbotica, said: “We are on a mission to bring autonomous software to the world’s biggest markets. We have seen strong demand across many sectors. This funding moves us into our next growth phase. It enables us to scale our capabilities and international reach. We are very pleased to welcome our new investors to the company.”
Jamie Vollbracht, Cleantech Partner at IP Group, said: “IP Group is excited about Oxbotica. The company’s approach unlocks a wealth of opportunities. Impressively, Oxbotica has funded its activities to date without outside investment by winning major contracts. We are delighted to be selected as an investment partner. I look forward to working with the board and team to help capture the benefits of this technology.”