Nvidia and UK National Wealth Fund Invest in Oxa to Propel Autonomous Driving Technology

Nvidia, through its venture capital arm NVentures, has partnered with the UK’s National Wealth Fund to invest $103 million (£77 million) in the British autonomous driving startup Oxa. Founded in 2014 and based in Oxford, Oxa specializes in developing software for self-driving industrial vehicles, focusing on automating repetitive driving tasks in sectors such as ports, airports, and manufacturing facilities. The funding round includes $50 million from the National Wealth Fund, which aims to support clean energy and growth industries in the UK.

The GuardianSelf-driving startup Oxa raises $103m round backed by Nvidia and BPAutonomous driving firm Oxa raises £77m

Oxa's technology, branded as Industrial Mobility Automation (IMA), is designed to enhance productivity and safety in industrial settings. The company has established partnerships with major clients, including BP and DHL, to implement its self-driving solutions. Oxa plans to utilize the new funding to accelerate the development of its software and robotics technology, which includes the Oxa Driver and Oxa Foundry toolchain. Paul Newman, Oxa’s co-founder and CTO, emphasized that the investment will enable the company to deliver significant productivity gains and lower operational costs for its industrial customers.

UK self-driving startup Oxa raises £77m to scale commercial deploymentAutonomous driving firm Oxa raises £77mSelf-driving startup Oxa raises $103m round backed by Nvidia and BP

Chris McDonald, the UK Minister for Industry, remarked that Oxa exemplifies UK excellence in digital technologies and that the investment will enhance productivity and freight efficiency both domestically and internationally. He noted that advanced manufacturing and digital technologies are central to the UK’s Modern Industrial Strategy. Oliver Holbourn, CEO of the National Wealth Fund, stated that this investment could significantly boost growth and productivity in the UK, potentially creating an industry worth billions of pounds and generating thousands of well-paid jobs.

Autonomous driving firm Oxa raises £77m

While the investment has been largely praised, some industry observers express caution regarding the regulatory landscape for autonomous vehicles. Concerns have been raised about the complexities and challenges associated with deploying self-driving technology in consumer markets, which Oxa has opted to avoid in favor of industrial applications.

Autonomous driving firm Oxa raises £77m

Oxa anticipates raising additional funding in the first half of 2026 to further support its expansion plans across the UK, Europe, and the Middle East. The company aims to solidify its position as a leader in the IMA sector, capitalizing on the growing demand for autonomous solutions in various industrial applications.

UK self-driving startup Oxa raises £77m to scale commercial deployment

• “The capital will supercharge the development of our technology, enabling our industrial customers to benefit from significant productivity gains, lower operational costs and increased workplace safety, sooner.” — Paul Newman, Co-founder and CTO of Oxa

Autonomous driving firm Oxa raises £77m

• “Oxa is a great example of UK excellence in digital technologies that are transforming the global automotive sector, and this investment will boost productivity and improve freight efficiency at home and abroad,” — Chris McDonald, UK Minister for Industry

Autonomous driving firm Oxa raises £77m

• “This could provide a significant boost to growth and productivity in the UK, creating an industry worth billions of pounds, generating thousands of well-paid jobs and providing significant productivity benefits across many sectors.” — Oliver Holbourn, CEO of the National Wealth Fund

Self-driving startup Oxa raises $103m round backed by Nvidia and BP