Oxbotica completed a $47 million Series B funding round led by bp ventures.

Oxbotica, an Oxford, UK-based software developer of SAAS for autonomous vehicles, announced that it raised funding of $47 million.

The money was raised from investors led by bp ventures and including participation from BGF, Halma, HostPlus, IP Group, Tencent, Venture Science, and funds advised by Doxa Partners.

The proceeds will be used to accelerate commercial deployment of its autonomy software platform across multiple industries and key markets.

Oxbotica, founded in 2014 by  by Oxford professors, Paul Newman and Ingmar Posner, and led by CEO Ozgur Tohumcu, built a platform offering Universal Autonomy which is fast to deploy, low energy, hassle free, hardware agnostic autonomy and applicable to a vast array of vehicle types both on and off road. The advanced technology supports the company’s horizontal B2B model providing operators, integrators and manufacturers the autonomy functionality they need – be that a full stack or on a component-by-component basis.