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METALS AND MINING

Oxbotica raises $47m in investment for autonomous mining software

Oxbotica raises $47m in investment for autonomous mining software
The Siliconreview
06 January, 2021

Oxbotica has announced that it has raised $47m in investment for new autonomous software to be deployed at mines across the world, with energy major BP and investment firm BGF among the backers. The company, which began as a spin-out from Oxford University, is developing what it calls an “open autonomy software platform for the mining industry”, which will enable vehicles of all sizes and functions to communicate with one another and operate without human input.

“We are very excited about the amazing endorsement we have received from new and existing investors. This round of investment marks a key chapter in Oxbotica’s continued growth and pushes us forward in commercialising our autonomous software today, through key strategic go-to-market partnerships,” said Oxbotica CEO Ozgur Tohumcu.

The company also offers a companion cloud-based vehicle and data management platform, which can integrate with all of the vehicles operated by the autonomous platform, creating a holistic approach to vehicle management and maintenance. As the software can be installed on a range of vehicles and machines, older vehicles and those not designed specifically for automated work can be upgraded to function autonomously, ensuring that legacy machines are not left behind as the mining industry continues to embrace autonomous operation.