Nvidia Invests in UK Autonomous Driving Startup Oxa in $103 Million Funding Round
Nvidia Corp. has announced an investment in Oxa, a UK-based autonomous driving technology company, marking another strategic move by the semiconductor giant into the self-driving mobility sector.
The investment was made through Nvidia’s venture capital arm NVentures, as part of a funding round that raised $103 million. The UK government’s National Wealth Fund committed $50 million, while existing investors — including BP Plc’s venture fund — also participated.
Oxa declined to disclose its valuation in the round or the exact amount invested by Nvidia.
Some existing shareholders such as IP Group Plc and Ocado Group Plc have recently written down the value of their investments in the loss-making company, citing delays in funding rounds and changes in its commercial outlook.
Nvidia’s latest investment follows its backing of UK self-driving company Wayve, which raised $1.5 billion last month at a valuation of $8.6 billion.
Founded as Oxbotica and spun out of Oxford University, Oxa was the first company to trial driverless vehicles on UK roads. The company has since shifted its strategy toward industrial applications, including deployments in factories, ports, and mining environments.
Oxa now retrofits existing vehicles such as tow tractors with autonomy hardware and proprietary software, enabling companies to deploy self-driving solutions within industrial operations.
Founder and Chief Technology Officer Paul Newman said the shift was driven by the enormous cost required to develop autonomous passenger vehicles, noting that the sector requires “tens of billions” of dollars in investment.
“You’ve got to disrupt supply chains, you’ve got uncertain regulatory affairs and it’s unbelievably expensive to get into,” he said.
“Scaling in that environment is so much harder and the economics are nothing like as attractive as doing it in the industrial domain.”
The company said the new funding will support its global expansion plans, with a focus on the UK, Europe, and the Middle East, adding that the total amount raised in the Series D round could increase in the coming months.
