Last checked at 6 Jan 2021 07:00
FOR RELEASE ON | 06 January 2021 |
IP Group plc - Portfolio company Oxbotica completes £36m funding round
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the developer of intellectual property-based businesses, notes that portfolio company Oxbotica Ltd, a global leader in autonomous vehicle software, has announced that it has raised £36.0 million of new capital in a Series B round from both new and existing investors.
Following completion of the transaction, IP Group will hold a direct undiluted beneficial stake of 15.0% in Oxbotica. IP Group committed £4.0 million to the round which was led by bp ventures with funding from other investors including BGF, Halma, HostPlus,Tencent, Venture Science and funds advised by Doxa Partners. The funding will be used to accelerate Oxbotica's commercial deployment of its autonomy software platform across multiple industries and key markets.
Oxbotica's product is a software platform providing Universal Autonomy. It 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 Oxbotica's unique horizontal B2B model providing operators, integrators and manufacturers the autonomy functionality and flexibility they need be that a full stack or on a component-by-component basis.
Jamie Vollbracht, Partner, Cleantech at IP Group plc, said: "Oxbotica provides autonomy where it makes sense today: delivering safety, cost and environmental benefits. Two years after IP Group's first investment, we are delighted to be able to welcome multiple value-adding investors to the share register. This substantial funding round will enable Oxbotica to move to the next stage, delivering those benefits in multiple applications across the globe."
For more information, please contact:
IP Group plc | www.ipgroupplc.com |
Greg Smith, Chief Financial OfficerLiz Vaughan-Adams, Communications | +44 (0) 20 7444 0050+44 (0) 20 7444 0062/+44 (0) 7979 853802 |
Charlotte Street Partners | |
David Gaffney | +44 (0) 7854 609998 |
Andrew Wilson | +44 (0) 7810 636995 |
Notes for editors
About IP Group
IP Group is a leading intellectual property commercialisation company which focuses on evolving great ideas, mainly from its partner universities, into world-changing businesses. The Group has pioneered a unique approach to developing these ideas and the resulting businesses by providing access to business building expertise, capital (through its 100%-owned FCA-authorised subsidiaries IP Capital and Parkwalk Advisors), networks, recruitment and business support. IP Group has a strong track record of success and its portfolio comprises holdings in early-stage to mature businesses across life sciences and technology. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO.
Group holdings in portfolio companies reflect the undiluted beneficial equity interest excluding debt, unless otherwise explicitly stated.
For more information, please visit our website at www.ipgroupplc.com.
About Oxbotica
Oxbotica is a global leader in autonomous vehicle software. Oxbotica was founded in 2014 as an Oxford University spin-out with a simple mission to develop autonomy software that will transform all
industries where people and goods move. Oxbotica's autonomy software works with any vehicle, any
time, and in any place. This is Universal Autonomy. Oxbotica's autonomous vehicle software is deployed across multiple industries, bringing the benefits of autonomy to enterprises globally. Oxbotica is building an ecosystem that supports the adoption of autonomous vehicles, leveraging key partnerships to accelerate the deployment of Universal Autonomy.
ENDS