At around 2.20am on Wednesday, June 7, the victim, a Banbury woman in her 40s, was walking along the Middleton Road when she passed a group of men.
As the woman walked past the men, congregated in School View, she felt a blow to the side of her neck causing her to fall to the ground.
She got up and when she did so one of the males searched her, taking her mobile phone, keys and cash.
The offenders are described as Asian men.
The victim sustained bruising to her neck but did not require hospital treatment.
Anyone with any information is asked to contact Thames Valley Police asking Detective Constable Anneliese Palfrey via 101 quoting 43170164573.
A man aged 21 from Birmingham and a man aged 22 of no fixed abode were arrested in connection with this offence and have since been released under investigation.