Insider Brief
- Autonomous vehicle software developer Oxa raised $103 million in the first close of its Series D round to accelerate commercialization of self-driving systems for industrial vehicles.
- The round included a $50 million commitment from the UK’s National Wealth Fund alongside backing from NVentures, IP Group, Hostplus and bp Ventures.
- Oxa plans to expand development of its Oxa Driver autonomous software and Oxa Foundry toolchain as it targets industrial mobility automation applications in ports, airports and manufacturing sites with customers including DHL, Vantec and bp.
Autonomous vehicle software developer Oxa has raised $103 million in the first close of its Series D funding round as it pushes to commercialize self-driving systems for industrial vehicles, the company announced.
The round includes a $50 million commitment from the UK’s National Wealth Fund along with backing from NVentures, the venture capital arm of NVIDIA. Existing investors IP Group, Hostplus and bp Ventures also participated.
Oxa said the new capital will be used to expand development and deployment of its autonomous driving software platform, known as Oxa Driver, along with its engineering development environment, Oxa Foundry. The UK startup said it is focusing on what it calls industrial mobility automation, which targets repetitive driving tasks in controlled environments such as ports, airports and manufacturing facilities.
Those applications include autonomous towing and cargo movement as well as monitoring and inspection activities at industrial sites such as solar farms and energy facilities. According to Oxa, the technology is already being tested with customers including DHL, Vantec and BP, with the goal of expanding deployments in logistics and industrial operations.
“These investments validate our intensified focus on Industrial Mobility Automation (IMA), where the path to commercial deployment at scale is clearest and most immediate,” Founder and CTO Paul Newman said in the announcement. “The capital will supercharge the development of our technology, enabling our industrial customers to benefit from significant productivity gains, lower operational costs and increased workplace safety, sooner.”
The funding will also support expansion in the UK, Europe and the Middle East, regions where it sees early commercial opportunities for autonomous vehicle systems in industrial settings, the company noted.
“This could provide a significant boost to growth and productivity in the UK, creating an industry worth billions of pounds, generating thousands of well-paid jobs and providing significant productivity benefits across many sectors,” National Wealth Fund CEO Oliver Holbourn said.
A second and final close of the Series D round is expected in the first half of 2026.
Credit image: Oxa
