Oxa raises $103m in Series D first close

Oxa announced the first close of its Series D funding round with $103 million raised. The round included an initial $50 million commitment from the National Wealth Fund along with backing from NVentures, NVIDIA's venture capital arm, and additional capital from existing shareholders IP Group, Hostplus and bp Ventures. The investment will support the commercialization of solutions for Industrial Mobility Automation, which involves automating repetitive industrial driving tasks. The funding will advance development of Oxa's physical AI and robotics technology, including the Oxa Driver self-driving software and the Oxa Foundry development toolchain. It will enable expansion with customers including DHL, Vantec and bp while supporting global growth plans focused on the UK, Europe and the Middle East. Minister for Industry Chris McDonald said the investment will boost productivity and improve freight efficiency. Paul Newman, Oxa's founder and chief technology officer, said the investments validate the focus on Industrial Mobility Automation where the path to commercial deployment at scale is clearest. Oliver Holbourn, chief executive of the National Wealth Fund, said the investment will give Oxa the support needed to accelerate the scale and deployment of its technology. A second and final close of the Series D round is expected in the first half of 2026. Nomura International plc acted as financial advisor to Oxa in relation to the funding.