Self-driving software startup Oxa has raised $103m in Series D funding from Nvidia’s venture capital arm NVentures, BP Ventures, IP Group and Hostplus.
Half of the round ($50m) also came from the UK’s £27.8bn National Wealth Fund, which invests into the country’s clean energy and growth industries and counts advanced manufacturing among its priorities.
Founded in 2014, the University of Oxford spinout develops self-driving software focused on Industrial Mobility Automation (IMA), which involves using autonomous vehicles and robots to automate the movement of goods and materials.
It fits its tech onto existing vehicles produced by original equipment manufacturers (OEMs), with oil and gas giant BP and delivery company DHL among its clientele.
Oxa’s tech can be used to tow and carry goods in locations including ports, airports and manufacturing facilities. It can also be used by solar farms and industrial plants for asset and perimeter monitoring.
Oxa plans to use some of the funding to expand across its home market the UK, Europe and the Middle East.
“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,” says Paul Newman, Oxa founder and CTO.
Oliver Holbourn, CEO of the National Wealth Fund, adds: “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.”
Oxa expects to raise additional Series D funding by the end of the first half of 2026.
