RCS - IP Group PLC - Portfolio company Oxa raises $103m in Series D

IPAnnouncement

04/03/2026 07:02

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RNS Number : 2108V  IP Group PLC  04 March 2026

 FOR RELEASE ON  04 March 2026

Portfolio company Oxa raises $103m in Series D first close, backed by National
Wealth Fund and leading investors

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), which invests in
breakthrough science and technology companies with the potential to create a
better future for all, notes that portfolio company Oxa Autonomy Ltd ("Oxa" or
"the Company") has announced the successful first close of its Series D
funding round, raising a total of $103m.

Oxa, a global leader in autonomous vehicle technology, noted an initial $50m
commitment from the National Wealth Fund, alongside backing from NVentures
(NVIDIA's venture capital arm) and additional capital from existing
shareholders IP Group and its Hostplus managed funds, and bp Ventures
completed the first close. The investment will enable Oxa to intensify its
focus on commercialising solutions for Industrial Mobility Automation (IMA),
which involves the automation of repetitive industrial driving tasks.

IP Group invested £7.5m ($10m) from its balance sheet to the financing round
and £19m ($25m) from its Hostplus managed funds*. Following completion, IP
Group has an undiluted beneficial holding of 10.6% in Oxa, with a further 9.7%
held via its managed funds.

Greg Smith, Chief Executive of IP Group, said: "This funding round - with
backing from the National Wealth Fund and NVentures (NVIDIA's venture capital
arm) - underlines the growing conviction behind Oxa's leadership in Industrial
Mobility Automation. We believe Oxa's 'universal AI driver' approach positions
it to scale autonomy across industrial vehicles and environments as adoption
accelerates. For shareholders, IP Group offers a differentiated route to
exposure to a leading private AI company in mobile autonomy."

*Includes funds managed/advised on behalf of Hostplus.

For more information, please contact:

 

 IP Group plc                       www.ipgroupplc.com
 Liz Vaughan-Adams, Communications  +44 (0) 20 7444 0062/+44 (0) 7967 312125
 Portland
 Lewis Bendall-Craft                +44 (0) 7931 973950

 

Notes for editors

 

About IP Group

 

IP Group accelerates the impact of science for a better future. As the most
active UK based, early stage science and technology investor, we develop and
support some of the world's most exciting businesses in healthtech, deeptech
and cleantech. Through Parkwalk, the UK's largest growth EIS fund manager, we
also back world-changing innovation emerging in leading universities and
research institutions. Our specialist investment team combines sector
expertise with an international approach. Together we have a strong track
record of success, having backed high-profile companies including Oxford
Nanopore Technologies plc, Hinge Health, Featurespace, First Light Fusion,
Hysata, and Oxa. IP Group is listed on the Main Market of the London Stock
Exchange under the code IPO.

 

For more information, please visit our website at www.ipgroupplc.com
(http://www.ipgroupplc.com/) .

 

ENDS

 

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