Oxa has closed the first tranche of its Series D funding, having raised US$103m. The round includes a US$50m commitment from the UK’s National Wealth Fund, along with backing from NVentures, Nvidia’s venture capital arm, and additional capital from existing investors IP Group, Hostplus and BP Ventures.
The funding will support the commercialization of Oxa’s Industrial Mobility Automation (IMA) solutions, which automate repetitive industrial driving tasks. It will also accelerate the development of the company’s AI and robotics technology, including its Oxa Driver self-driving software and the Oxa Foundry development toolchain. Existing customers include DHL, Vantec, and BP.
Paul Newman, Oxa’s founder and CTO, said, “These investments validate our intensified focus on Industrial Mobility Automation, where the path to commercial deployment at scale is clearest and most immediate. 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. We are proud to be developing world-leading technology here in the UK, fundamentally changing the way industry moves, and cementing our position as the category leader for IMA globally.”
Oxa’s solutions target a wide range of industrial applications, including towing and transporting goods at ports, airports and manufacturing sites, as well as asset and perimeter monitoring at solar farms and other industrial facilities. The technology is designed to address labor shortages, reduce operational costs and improve safety.
Minister for Industry Chris McDonald said, “Oxa is a great example of UK excellence in digital technologies that are transforming the global automotive sector, and this investment will boost productivity and improve freight efficiency at home and abroad. With advanced manufacturing and digital technologies being central to our Modern Industrial Strategy, we’re supporting firms like Oxa to strengthen the UK’s position as a global leader in connected and automated mobility.”
Oliver Holbourn, National Wealth Fund CEO, added, “The National Wealth Fund’s investment will give Oxa the support it needs to accelerate the scale and deployment of its groundbreaking technology, unlocking the potential in connected and autonomous mobility. 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.”
The Series D funding round will close with a second and final tranche expected in the first half of 2026.
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