UAE-headquartered mobility startup Moove has raised $250 million in a Series C round at a $2.1 billion valuation, led by Mubadala Investment Company and co-led by Woven Capital (Toyota's growth fund) and Ion Pacific, with participation from BlueCrest Capital Management and Sona Capital.
Founded in 2020 in Nigeria by Ladi Delano and Jide Odunsi, Moove builds the operating infrastructure for autonomous mobility, providing fleet ownership, management, charging, maintenance, and robotics-first depot infrastructure for autonomous vehicle fleets.
The company currently operates around 42,000 vehicles across 29 cities in 13 countries, employs 3,300 people, generates $420 million in annual recurring revenue (ARR), and manages autonomous vehicle fleets through its partnership with Waymo in Phoenix and Miami, with London set to follow.
The fresh funding will be used to expand Moove's autonomous vehicle business, build additional robotics-first Nests infrastructure, enter new markets, and grow its autonomous mobility workforce by more than 220%, from approximately 150 to 500 employees by the end of the year.
Press release:
