UK autonomous vehicle technology company Oxa has secured $103m in the first close of its Series D funding round.
The company said the round includes an initial $50m commitment from the National Wealth Fund, a UK public finance institution.
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Participation also came from NVentures, the venture capital arm of NVIDIA, alongside additional investment from existing shareholders IP Group, Hostplus and bp Ventures, the venture capital arm of British energy company bp.
Oxa founder and CTO Paul Newman said: “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.”
Oxa said the funding will be used to support the commercial rollout of its industrial mobility automation (IMA) platform, which is intended to automate repetitive driving tasks in industrial environments.
The company also plans to accelerate development of its physical AI and robotics capabilities.
This includes further work on its self-driving software, Oxa Driver, as well as its development toolchain, Oxa Foundry.
According to Oxa, the capital will help support ongoing programmes with customers including DHL, Vantec and bp, as deployments expand across sites such as ports, airports and manufacturing facilities.
The company cited applications including autonomous towing, movement of goods and monitoring of assets and perimeters at locations such as solar farms and industrial facilities.
Oxa said it will also allocate part of the funding to international expansion across the UK, Europe and the Middle East, where it expects additional opportunities for self-driving deployments.
The company noted that the investment aligns with the UK government’s Advanced Manufacturing Sector Plan, which aims to strengthen the country’s position in scaling innovation and automation.
It added that Advanced Manufacturing, Digital and Technology, and Transport are among the National Wealth Fund’s priority sectors.
Oxa said a second and final close of the Series D funding round is expected in the first half of 2026.
