IP Group PLC Portfolio co Oxbotica completes GBP36m funding round
06 Enero 2021 - 1:00AM
RNS Non-Regulatory
TIDMIPO
IP Group PLC
06 January 2021
FOR RELEASE ON 06 January 2021
IP Group plc - Portfolio company Oxbotica completes GBP36m
funding round
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the
developer of intellectual property-based businesses, notes that
portfolio company Oxbotica Ltd, a global leader in autonomous
vehicle software, has announced that it has raised GBP36.0 million
of new capital in a Series B round from both new and existing
investors.
Following completion of the transaction, IP Group will hold a
direct undiluted beneficial stake of 15.0% in Oxbotica. IP Group
committed GBP4.0 million to the round which was led by bp ventures
with funding from other investors including BGF, Halma,
HostPlus,Tencent, Venture Science and funds advised by Doxa
Partners. The funding will be used to accelerate Oxbotica's
commercial deployment of its autonomy software platform across
multiple industries and key markets.
Oxbotica's product is a software platform providing Universal
Autonomy. It is fast to deploy, low energy, hassle free, hardware
agnostic autonomy and applicable to a vast array of vehicle types
both on and off road. The advanced technology supports Oxbotica's
unique horizontal B2B model providing operators, integrators and
manufacturers the autonomy functionality and flexibility they need
be that a full stack or on a component-by-component basis.
Jamie Vollbracht, Partner, Cleantech at IP Group plc, said:
"Oxbotica provides autonomy where it makes sense today: delivering
safety, cost and environmental benefits. Two years after IP Group's
first investment, we are delighted to be able to welcome multiple
value-adding investors to the share register. This substantial
funding round will enable Oxbotica to move to the next stage,
delivering those benefits in multiple applications across the
globe."
For more information, please contact:
IP Group plc www.ipgroupplc.com
+44 (0) 20 7444 0050
Greg Smith, Chief Financial Officer +44 (0) 20 7444 0062/+44 (0)
Liz Vaughan-Adams, Communications 7979 853802
Charlotte Street Partners
David Gaffney +44 (0) 7854 609998
Andrew Wilson +44 (0) 7810 636995
Notes for editors
About IP Group
IP Group is a leading intellectual property commercialisation
company which focuses on evolving great ideas, mainly from its
partner universities, into world-changing businesses. The Group has
pioneered a unique approach to developing these ideas and the
resulting businesses by providing access to business building
expertise, capital (through its 100%-owned FCA-authorised
subsidiaries IP Capital and Parkwalk Advisors), networks,
recruitment and business support. IP Group has a strong track
record of success and its portfolio comprises holdings in
early-stage to mature businesses across life sciences and
technology. IP Group is listed on the Main Market of the London
Stock Exchange under the code IPO.
Group holdings in portfolio companies reflect the undiluted
beneficial equity interest excluding debt, unless otherwise
explicitly stated.
For more information, please visit our website at
www.ipgroupplc.com .
About Oxbotica
Oxbotica is a global leader in autonomous vehicle software.
Oxbotica was founded in 2014 as an Oxford University spin-out with
a simple mission to develop autonomy software that will transform
all
industries where people and goods move. Oxbotica's autonomy
software works with any vehicle, any
time, and in any place. This is Universal Autonomy. Oxbotica's
autonomous vehicle software is deployed across multiple industries,
bringing the benefits of autonomy to enterprises globally. Oxbotica
is building an ecosystem that supports the adoption of autonomous
vehicles, leveraging key partnerships to accelerate the deployment
of Universal Autonomy.
ENDS
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