Oxbotica announces $140m fundraise, including further investment from Halma plc.
Navtech Radar’s Terran360 software partner, Oxbotica, announced this morning that it has finalised a funding round totalling $140 million. These funds will enable the deployment of Oxbotica’s Universal Autonomy software stack in multiple commercial and industrial applications.
Navtech’s industry-leading radar products have already been combined with Oxbotica’s disruptive technology to create a robust, high-performance positioning system called Terran360. This presents a unique capability for automated and autonomous vehicles in conditions where satellite-based positioning systems and other sensor technologies fail to operate reliably.
These features are considered essential to true automation and autonomy. The Terran360 solution is available on the market, enabling vehicle operators of many kinds to increase productivity, reduce accidents and increase up-time.
Navtech's radars can be used either independently, or in combination with a variety of other sensors. The radars can sense accurately at up to 600m range in almost any environmental conditions, and Navtech and Oxbotica’s collaboration is already yielding world-beating results in industrial environments. This latest funding round provides a foundation for the continued development and deployment of Universal Autonomy, and Navtech Radar are proud to be part of the story.
Phil Avery - Managing Director, Navtech Radar Ltd, commented:
“The success of Oxbotica’s latest funding is excellent news all round. Not only for Oxbotica themselves, but also for the autonomous vehicle industry, and for all customers of this incredible technology. I’m sure that this tangible vote of confidence from the investment community will help to bring the benefits of autonomy to more people, in more applications than ever before.
Navigation without GPS has always been an elusive goal, and we have the first viable, high-performance alternative. We can now look at the world around us and use nearby objects and landmarks to track our movements relative to them. This means that in areas where good GPS signal is hard to come by, or where there’s the possibility of unwanted interference, our customers can navigate safely.
Radar vision is nothing short of superhuman, seeing up to 600m through rain, fog, snow, dirt, and dust at a very impressive level of detail. This means that vehicles can operate regardless of conditions, helping businesses to avoid accidents and collisions, safely navigate terrain, and track important assets with minimal oversight.
Our solutions are developed in close collaboration with our clients, customised to meet the most stringent requirements, and built to last for years in operation. We’re always looking to learn and better understand new applications and would welcome the opportunity to explore the possibilities of radar-based localisation with potential users through proof-of-concept demonstrations and operational trials.”