Led by Mubadala Investment Company "Mubadala", and co-led by Woven Capital (Toyota) and Ion Pacific, the Series C accelerates Moove’s global infrastructure platform for autonomous mobility as the market shifts from breakthrough technology to scaled deployment.
$250 million Series C values Moove at $2.1 billion, cementing its position as the category defining infrastructure company for the autonomous mobility economy
Moove is building the core operating layer for autonomous mobility globally through integrated fleet management, robotics-first depot infrastructure, and 24/7 operations
Through its partnership with Waymo, Moove is already a leading third-party autonomous vehicle fleet manager, with operations live or announced across Phoenix, Miami and London
Moove’s autonomous strategy is grounded in five years of building and operating mobility infrastructure at scale, from an initial launch of 76 vehicles in Lagos to approximately 42,000 vehicles across 29 cities (13 countries) and achieving an ARR of $420 million
(BUSINESS WIRE)--Moove, the global mobility company building the operating layer for autonomous mobility, today announced it has raised $250 million at a $2.1 billion valuation in a Series C funding round led by Mubadala Investment Company and co-led by Woven Capital, Toyota’s Growth Fund, and Ion Pacific.
The round also brings in BlueCrest Capital Management, Sona Asset Management and The Raptor Group, further strengthening the depth of Moove’s institutional backing, alongside the likes of BlackRock, MUFG, Franklin Templeton, Uber, Left Lane, Silverbacks Holdings, Square Associates, The Latest Ventures, and the Ontario Power Generation Pension Plan, supporting Moove’s next phase of growth.
The funding will support the expansion of Moove’s autonomous vehicle business, including autonomous fleet ownership and robotics-first depot infrastructure “Nests”, where autonomous fleets are charged, serviced, maintained and orchestrated for continuous operation. The funds will also be used to support new market launches, globally. As part of this expansion, Moove expects to grow its autonomous vehicle workforce by more than 220% by the end of the year, increasing from ~150 employees today to ~500.
Scaling autonomous mobility requires more than vehicle technology alone. It depends on access to capital, fleet ownership, charging infrastructure, maintenance, operational orchestration systems, and 24/7 city-level execution. Moove is building that infrastructure layer, enabling autonomous mobility to transition from breakthrough capability to large-scale transportation networks.
Since 2020, Moove has built the capital, fleet and operations platform required to deploy and manage productive human driven ride-hail mobility assets at scale. Today, the company employs 3,300 people globally, and operates approximately 42,000 vehicles across 29 cities in 13 countries, making it one of the largest ride-hailing fleets in the world. It has expanded through a combination of organic growth and strategic acquisitions, including Kovi in Brazil and Tokyo Taxi in Japan, and has grown to $420 million ARR.
Through its autonomous mobility business, Moove is extending the operating model it has built over the past five years for human driven mobility into next generation AV systems. Autonomous vehicles increase the need for reliable physical infrastructure and operational precision, and Moove is applying its experience across fleet orchestration, operations, servicing, charging, and logistics to meet that demand. Through its partnership with Waymo, Moove is already a leading third-party autonomous fleet operator, with operations live in Phoenix and Miami, and future operations in London.
Autonomous mobility is expected to become a foundational layer of future urban ecosystems, influencing logistics, public transportation, commerce, and city infrastructure. Platforms capable of operating this infrastructure at scale are likely to play a central role in enabling next generation mobility networks.
Ladi Delano, Co-Founder, Co-CEO and Advisory Board Chairman of Moove, said: “Every major technology revolution becomes an infrastructure race. The internet required data centres. AI required compute. Autonomy requires fleets, charging, maintenance, data systems and 24/7 operations in every city - and that is what Moove is building. In our view, as autonomy scales, infrastructure ownership and operations will define the category leaders. We are building to be one of them.
We started in Lagos with a simple insight: mobility demand is abundant, but supply cannot scale unless capital, technology and operations move together. Five years later, that insight has evolved into a global platform. Today, we are focused on building the platform that will redefine mobility and enable billions of autonomous journeys worldwide.
From our anchor in the UAE, and backed by long-term strategic capital, Moove now has the platform to help take autonomy from breakthrough technology to everyday transportation. This is not a departure from our mission, it is the fullest expression of it.”
Ali Eid AlMheiri, Executive Director of Diversified Assets, UAE Investments Platform at Mubadala, said: “As autonomous mobility moves from innovation to scaled deployment, the infrastructure supporting it becomes increasingly important. Moove is building an integrated operating platform that combines fleet ownership, operational capability, and technology to support the next phase of growth in autonomous mobility. This is particularly important for the UAE. Mubadala is investing in enabling infrastructure and scalable platforms like Moove that support economic diversification and strengthen the UAE’s role as a hub for advanced technologies. Since Mubadala’s initial investment three years ago, Moove has been a great partner and we are glad to continue partnering with Moove in its next phase of growth.”
Betty Lee, Principal at Woven Capital (Toyota’s Growth Fund), said: "Moove has demonstrated an exceptional ability to execute across markets, building a global platform across traditional and autonomous vehicle fleets. The next wave of mobility is an infrastructure problem as much as a software one, and Moove is building the foundational layer to solve it. Few companies at this stage have proven they can move with the speed and operational excellence that Moove has demonstrated across so many markets. We’re excited to be part of what they are building and help accelerate their path as they scale."
Michael Joseph, Co-CEO & Co-Founder of Ion Pacific Limited, said: “We’ve partnered with the Moove team for more than five years, and their execution has consistently impressed us. As autonomous mobility moves from possibility to reality, Moove is building a critical infrastructure layer for the sector - one that is complex, adaptive and essential to scaling AVs. We’re excited to be part of that journey.”
Moove’s Series C marks a step change in the company’s ability to scale the infrastructure layer underpinning autonomous mobility globally.
About
Moove is a global mobility company building the operating layer for autonomous mobility. Headquartered in the UAE and founded in 2020 by Ladi Delano and Jide Odunsi, Moove finances, owns and operates productive mobility assets for leading mobility platforms across manned and autonomous transportation. Moove operates across 13 countries and 29 cities, with approximately 42,000 vehicles and more than 3,300 employees worldwide. The company scaled rapidly to an ARR of $420m within 5 years of launch.
Moove is Uber’s largest global fleet partner and a leading third-party operator of autonomous vehicle fleets through its partnership with Waymo. In autonomous mobility, Moove finances, owns and operates autonomous vehicle fleets, builds and manages robotics-first Nest infrastructure, and runs the operational layer required to deploy driverless services at scale. Autonomous operations are live in Phoenix and Miami, with London confirmed as the first international expansion and further cities to be announced.
Moove has also expanded its global footprint through strategic acquisitions, including the full acquisition of Kovi in Brazil and Tokyo Taxi in Japan, strengthening its position across key international markets.
The company’s model combines capital, infrastructure and operations to enable mobility platforms to scale globally across both manned and autonomous mobility. Moove is backed by a strong group of global investors, including Mubadala, Woven Capital, Ion Pacific, Blue Crest, Sona Asset Management, Uber, Speedinvest, Silverbacks Holdings, Square Associates, The Raptor Group, The Latest Ventures, Endeavor Catalyst, Clocktower Ventures, Left Lane, LocalGlobe, BlackRock, Prosus, MUFG, Quona Capital, FJ Labs, Maya Capital, Monashees and Valor.
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