Ocado Invests GBP10 Million in Autonomous-Vehicle Technology Startup Oxbotica
By Matteo Castia
Ocado Group PLC said Friday that it is investing 10 million
pounds ($13.8 million) in autonomous-vehicle technology company
Oxbotica Ltd. as part of a multi-year collaboration to develop
hardware and software interfaces for autonomous vehicles.
"The ultimate ambition is to enable Ocado's partners that use
the Ocado Smart Platform to reduce the costs of last-mile delivery
and other logistics operations," the online grocer and
retail-technology specialist said.
The companies aim to enhance and integrate U.K.-based Oxbotica's
software platform into a variety of vehicles, including inside
Ocado's customer fulfillment centers.
In January, Oxbotica said it had raised $47 million in a funding
round led by the venture investment arm of BP PLC, which also
included Chinese internet company Tencent Holdings Ltd.
Write to Matteo Castia at firstname.lastname@example.org
(END) Dow Jones Newswires
April 16, 2021 02:28 ET (06:28 GMT)
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