Self-driving vehicle software group Oxa has bolstered its position in industrial logistics with the acquisition of StreetDrone.

Backed by Google, Oxa develops the software behind autonomous vehicles. The group has supported the rollout of self-driving bus and shuttle services.

The company announced on Wednesday it had acquired StreetDrone, an Oxford-based startup that specialises in industrial logistics – the movement and management of goods across ports, fulfilment centres and logistics hubs.

Oxa is looking to combine StreetDrone’s logistics solutions with its software to offer autonomous industrial products to customers, reports UKTN.

“StreetDrone joining Oxa marks another leap forward for us as we continue to build the world’s most comprehensive self-driving software platform,” said Gavin Jackson, CEO of Oxa.

“StreetDrone’s technology and capabilities will accelerate our ability to deliver safe, efficient and repeatable self-driving solutions across a wide range of industries – specialising in the industrial logistics sector.”

Oxa declined to disclose the acquisition fee. Companies House filings for StreetDrone reveal the group has around £166,000 in assets as of 2023.

“We’re thrilled to be joining forces with Oxa, a company that shares our commitment to bringing the benefits of autonomy to industrial fleets,” said Mike Potts, CEO of StreetDrone.

“Autonomous vehicles will transform industrial operations – enabling 24/7 uptime, reduced operational costs and increased productivity. Together with Oxa, we will help organisations globally to benefit from the power of autonomy, today.”

Last year, Oxa raised £105.9m in a Series C funding round.