Oxa, supported by Google, has acquired StreetDrone to strengthen its position in industrial logistics.
- Oxa develops software for autonomous vehicles, and has supported self-driving bus and shuttle services.
- StreetDrone, based in Oxford, specializes in industrial logistics including the management of goods across various hubs.
- The acquisition is expected to enhance Oxa’s capabilities in delivering autonomous solutions across industries.
- The financial details of the acquisition have not been disclosed, though StreetDrone’s assets are valued at approximately £166,000.
Oxa, a prominent self-driving vehicle software company backed by Google, has strategically enhanced its foothold in the industrial logistics sector through the acquisition of StreetDrone. Renowned for its role in advancing autonomous vehicle technology, Oxa has already made significant strides with self-driving bus and shuttle services. With this acquisition, the company aims to expand its offerings and integrate StreetDrone’s logistics solutions into its existing software to deliver cutting-edge autonomous products.
The move signifies Oxa’s continued efforts to build what it claims will be ‘the world’s most comprehensive self-driving software platform.’ Gavin Jackson, CEO of Oxa, underscored the importance of this acquisition, emphasizing how StreetDrone’s technological capabilities will accelerate the delivery of safe, efficient, and repeatable self-driving solutions specifically tailored for industrial logistics. This merger is poised to cater to a wide range of industrial needs and streamline operations by integrating advanced autonomous technologies.
StreetDrone, an Oxford-based startup, has established itself as a specialist in industrial logistics, particularly in the transit and management of goods through ports, fulfillment centers, and logistics hubs. By joining forces with Oxa, StreetDrone aims to bring the advantages of autonomous technology to industrial fleets, enhancing operational efficiency and productivity. Mike Potts, CEO of StreetDrone, expressed enthusiasm for the partnership, recognizing the transformative potential autonomous vehicles hold for industrial operations.
Despite the strategic importance of the acquisition, Oxa has opted not to disclose the financial terms of the deal. However, records indicate that StreetDrone boasts assets valued around £166,000 as of 2023. This acquisition follows Oxa’s successful Series C funding round last year, in which the company raised £105.9 million, further solidifying its position and resources to expand within the autonomous vehicle industry.
Oxa’s acquisition of StreetDrone marks a pivotal advancement in its quest to lead the autonomous vehicle sector, particularly within industrial logistics.
