Self-Driving Software Startup Oxbotica Raises $47million.
"The Startup said the funding will speed up commercial deployment of its software platform "across multiple industries and key markets "
On Wednesday, Oxbotica, a self-driving tech startup, said it raised $47 million in its new funding round led by the oil giant BP's investment arm, including Halma Plc, the manufacturer of health and safety products, and Tencent.
The Startup said the funding will speed up commercial deployment of its software platform "across multiple industries and key markets."
The company based in Oxford said its software works "with any vehicle, any time, and in any place."
It has proved more difficult than initially expected to develop the technology for completely self-driving cars and robotic taxis, as it requires the development of sensors capable of working with pedestrians on urban streets. Yet industry analysts predict that automated driving could be feasible by the middle of this decade on roads.
As it should be simpler and cheaper to carry out, experts claim, autonomous technology for freight trucks on highways has attracted investor interest, thus offering a clearer advantage.
Last year, there was a series of deals involving manufacturers of lidar sensors, including Lidar Inc, Velodyne, Luminar, Aeva, Innoviz and, deemed necessary by several car manufacturers to make cars capable of driving themselves.
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