Dubai-based mobility startup Moove has raised $250 million in a Series C funding round led by Abu Dhabi's Mubadala Investment Company, valuing the firm at $2.1 billion. The capital will fund Moove's transition from a human-driven ride-hailing fleet operator to a critical infrastructure provider for autonomous vehicles. Moove plans to expand its fleet partnership with Waymo, build automated robotic depots called 'Nests' for 24/7 vehicle servicing, and grow its autonomous vehicle workforce by over 220% by the end of 2026.
Moove Series C funding round
- ▪The Series C round attracted participation from BlueCrest Capital Management, Sona Asset Management, and The Raptor Group
- ▪Moove raised $250 million in a Series C funding round that values the global mobility company at $2.1 billion
- ▪The Series C funding round was led by Mubadala Investment Company and co-led by Woven Capital (Toyota's Growth Fund) and Ion Pacific
Autonomous vehicle infrastructure platform
- ▪Moove is building the physical infrastructure layer for autonomous mobility, including fleet ownership, charging infrastructure, maintenance, and operational orchestration systems
- ▪Moove plans to use the Series C capital to scale its autonomous vehicle fleet management business, purchase robotaxis, and support new market launches
Waymo fleet partnership
- ▪Moove serves as a third-party autonomous vehicle fleet manager for Waymo, with live operations in Phoenix and Miami
- ▪Moove has announced plans to expand its autonomous vehicle fleet operations with Waymo into London
Global workforce expansion
- ▪Moove employs 3,300 people globally across its entire traditional and autonomous business operations
- ▪Moove plans to grow its autonomous vehicle workforce by more than 220% by the end of 2026, increasing from approximately 150 employees to around 500
Human-driven mobility foundation
- ▪Moove was founded in Lagos, Nigeria in 2020 by Ladi Delano and Jide Odunsi with an initial fleet of 76 vehicles
- ▪Moove operates approximately 42,000 vehicles across 29 cities in 13 countries, generating an annual recurring revenue of $420 million
- ▪Moove expanded its global footprint through strategic acquisitions, including Kovi in Brazil and Tokyo Taxi in Japan
Robotics-first depot infrastructure
- ▪Moove has approximately 15 automated depot facilities in some stage of development
- ▪Moove is developing automated, robotics-first depots called 'Nests' to charge, service, maintain, and orchestrate autonomous fleets for continuous operation
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