REG - IP Group PLC - Portfolio company Oxbotica raises $140m Series C

IPAnnouncement

11/01/2023 07:00

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RNS Number : 3095M  IP Group PLC  11 January 2023

 FOR RELEASE ON  11 January 2023

 

IP Group plc - Portfolio company Oxbotica raises $140m Series C investment

 

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), which develops
world-changing science and technology businesses, is delighted to announce
that portfolio company Oxbotica Ltd ("Oxbotica" or "the Company"), the global
leader in autonomous vehicle software, has raised $140m (£115m*) in a Series
C investment round.

 

Kiko Ventures, IP Group's cleantech platform, supported the round
which included financial and strategic partners from North America, EMEA and
APAC, including new investors including Aioi Nissay Dowa Insurance Co., Ltd
and ENEOS Innovation Partners and current shareholders bp ventures, BGF,
Halma, Hostplus, Ocado Group, Tencent, Venture Science and ZF, amongst other
global companies. Following today's announcement, Oxbotica has raised
approximately US$225m to date.

 

The funding will drive Oxbotica's geographical expansion in North America,
EMEA and APAC, and accelerate the deployment of its ground-breaking autonomy
operating system in domains where there is both urgent need and potential to
scale, such as agriculture, airports, energy, goods delivery, mining and
shared passenger transportation.

 

As previously announced on 02 December 2022, IP Group recorded a net
unrealised fair value gain of approximately £36m or approximately 4p per
share following the first close of the round. IP Group committed £4.2m to the
funding round. Parkwalk, IP Group's wholly owned EIS fund manager, has also
invested £9.9m in Oxbotica to date.

 

Jamie Vollbracht, Founding Partner at Kiko Ventures, said: "Crucially,
Oxbotica is deploying solutions in applications where there is a need for
autonomy today. The systemic benefits of such autonomy solutions, and how they
will radically improve the future of transportation, shouldn't be
underestimated! We are delighted to be part of the journey with the team and
congratulate the leadership on this substantial fundraise."

 

Moray Wright, CEO at Parkwalk Advisors, said: "We are absolutely delighted to
see Oxbotica raise the funding required to fulfil their commercial
opportunities. The team's unique technology and architecture has multiple
applications which is why Parkwalk joined forces with IP Group's cleantech
team to lead the Seed and Series A funding rounds in 2018 and 2019
respectively."

 

Oxbotica is a global leader in autonomous vehicle software for businesses and
aims to unlock the benefits of self-driving technology to every person and
every organisation on the planet. Oxbotica's suite of products (Oxbotica
Driver™, Oxbotica Cloud™, and Oxbotica MetaDriver™) is enabling
Universal Autonomy™: the ability of any vehicle, of any size, in any
location to operate autonomously, safely, and sustainably.

 

*GBP equivalent using 1.21 USD/GBP

 

For more information, please contact:

 

 IP Group plc                                             www.ipgroupplc.com (http://www.ipgroupplc.com)
 Liz Vaughan-Adams, Communications                        +44 (0) 20 7444 0062/+44 (0) 7967 312125
 Portland
 Vic Wallin                                               +44 (0) 7973 823 119
 Alex Donaldson                                           +44 (0) 7516 729 702

 

Notes for editors

 

About IP Group

 

IP Group develops world-changing science and technology businesses across
life sciences, technology and cleantech (through Kiko Ventures). The Group has
a strong track record of success, having been the founder investor in a number
of high-profile companies including Oxford Nanopore Technologies plc, and has
one of the most exciting portfolios of high-growth businesses in Europe. The
Group also owns Parkwalk, the UK's largest growth EIS fund manager which backs
world-changing technologies emerging from the UK's leading universities and
research institutions. 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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