Local MP lauds innovation demonstrated by Oxa

Anneliese Dodds MP praised the work of autonomous vehicle software firm Oxa during her visit to the venture capital backed business, based in her constituency of Oxford East in November.

Coordinated by the British Private Equity and Venture Capital Association (BVCA), Ms Dodds met the Oxa team to learn how the company brings the benefits of autonomy to businesses globally. Oxa demonstrated how the organisation is working to build an ecosystem that supports the adoption of autonomous vehicles and discussed the support of private capital investment in accelerating their vision of Universal Autonomy.

BGF, one of the largest and most experienced private equity investors in the UK and Ireland, boosted Oxa’s growth following its £6 million investment in the company in 2020, with Oxa now employing over 400 people internationally. Originally spun-out of the University of Oxford and founded in 2014, Oxa has grown from a startup into one of the world’s leading autonomous driving software companies with a highly skilled team making use of the latest advances in AI and robotics.

There are over 60 private equity and venture capital backed businesses headquartered in Oxford East, supporting over 3700 jobs.

Commenting on the visit, Anneliese Dodds MP said:

“It was great to have the chance to meet the team at Oxa and see firsthand the world-leading technology being developed right here in Oxford. The company are a fantastic example of the innovation coming out of Oxford’s leading spin-out ecosystem, where Universities help spin-out independent companies from the research breakthroughs they create.

“I heard how BGF, and other private investment, has supported Oxa target further growth, supporting and creating more high skilled jobs right here in Oxford.”

Marta Ostroumoff, CFO at Oxa said:

“It was a pleasure to welcome Anneliese at our headquarters today to be able to demonstrate the importance of innovation for our customers and business operations firsthand.

“With the unwavering support of our private equity investor, BGF, Oxa continues to go from strength to strength. We’re proud to be backed by investors who share our vision of Universal Autonomy and allow us to continue building partnerships to grow at scale.

Michael Moore, BVCA Chief Executive said:

“Oxa is a prime example of an organisation that has harnessed the support of private capital to achieve financial success, deliver significant innovation and positive societal impact.

“Private capital is a partner for economic growth, supporting thousands of jobs in Oxford and across the UK. Our industry backs the most innovative businesses supporting local economies in every nation and region.”