British autonomous vehicle tech firm Oxa has raised $103 million in the first close of its Series D round, including a $50 million commitment from the National Wealth Fund, alongside backing from NVentures, IP Group, Hostplus, and bp Ventures. A second and final close for the round is expected in the first half of 2026.
- Launched in 2017 by Paul Newman, Oxa develops autonomous vehicle technology for industrial applications, focusing on automating repetitive driving tasks in environments such as ports, airports, yards, and manufacturing facilities.
- The company produces self-driving software, Oxa Driver, that can be configured for any industrial vehicle, along with modular hardware systems that can be retrofitted to existing fleets. Its solutions integrate with fleet management platforms, enabling businesses to monitor and control operations efficiently.
- Oxa’s technology is designed to improve productivity, reduce operational costs, and enhance workplace safety, with deployments already underway with companies including DHL and Heathrow Airport.
Details of the deal
- Oxa will use the Series D funding to advance its autonomous vehicle technology, deploying solutions for industrial customers like DHL, Vantec, and bp to improve efficiency, reduce costs, and enhance safety.
"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," claims Paul Newman, Founder and CTO of Oxa.
- The investment will also support the company’s expansion into key markets across the UK, Europe, and the Middle East, strengthening its leadership in Industrial Mobility Automation.
