Moove, the global mobility company building infrastructure and operations for autonomous transportation, has raised $250 million in a Series C funding round at a valuation of $2.1 billion. The round was led by Mubadala Investment Company and co-led by Woven Capital, Toyota’s Growth Fund, and Ion Pacific.
The funding round also attracted BlueCrest Capital Management, Sona Asset Management and The Raptor Group. The new investors join Moove’s existing institutional backers, including BlackRock, MUFG, Franklin Templeton, Uber, Left Lane, Silverbacks Holdings, Square Associates, The Latest Ventures and the Ontario Power Generation Pension Plan.
Moove will use the new capital to expand its autonomous vehicle business, including fleet ownership and its robotics-focused depot infrastructure known as “Nests.” These facilities are designed to support charging, servicing, maintenance and operational management of autonomous fleets.
The company will also use the funds to enter new international markets. As part of its expansion, Moove plans to increase its autonomous mobility workforce from around 150 employees to approximately 500 by the end of 2026. Moove said autonomous mobility requires more than vehicle technology. Fleet ownership, charging facilities, maintenance, logistics, operational systems and round-the-clock city-level support are essential for deploying autonomous vehicles at scale. The company aims to provide these capabilities through an integrated operating platform.
Founded in 2020, Moove has built a global platform for financing, owning and managing mobility assets. The company currently employs more than 3,300 people and operates approximately 42,000 vehicles across 29 cities in 13 countries. It has also grown to an annual recurring revenue of approximately $420 million.
Moove has expanded its operations through organic growth and acquisitions, including Kovi in Brazil and Tokyo Taxi in Japan. The company is also working with Waymo as a third-party autonomous fleet operator, with autonomous operations currently running in Phoenix and Miami and plans for expansion into London.
Ladi Delano, Co-Founder, Co-CEO and Advisory Board Chairman of Moove, said the company is focused on building the infrastructure needed to make autonomous transportation widely available. He said the new funding would help Moove expand its fleet, charging, maintenance, data and operational capabilities across global markets. Ali Eid AlMheiri, Executive Director of Diversified Assets, UAE Investments Platform at Mubadala, said Moove is developing an integrated platform combining fleet ownership, operations and technology to support the growth of autonomous mobility.
Betty Lee, Principal at Woven Capital, said Moove has demonstrated strong execution across traditional and autonomous vehicle fleets and is building infrastructure that can support the next phase of mobility. Moove said the Series C funding will strengthen its ability to expand autonomous mobility operations and build the physical and operational infrastructure required for large-scale driverless transportation.
Moove is a global mobility company focused on building the operating infrastructure for autonomous and conventional transportation. Founded in 2020 by Ladi Delano and Jide Odunsi and headquartered in the UAE, the company finances, owns and operates mobility assets for leading transportation platforms.
Moove has expanded its operations across 13 countries and 29 cities, with around 42,000 vehicles and more than 3,300 employees globally. The company has grown rapidly, reaching an annual recurring revenue (ARR) of approximately $420 million within five years of its launch.
Moove is Uber’s largest global fleet partner and has also become a major third-party operator of autonomous vehicle fleets through its partnership with Waymo. Its autonomous mobility business covers vehicle financing and ownership, fleet operations, robotics-focused Nest infrastructure and the operational support needed to deploy driverless services at scale. Autonomous operations are currently live in Phoenix and Miami, while London has been confirmed as its first international expansion market.
The company has strengthened its international presence through strategic acquisitions, including the full acquisition of Kovi in Brazil and Tokyo Taxi in Japan. These acquisitions have expanded Moove’s capabilities and presence in key global mobility markets.
Moove’s business model brings together capital, infrastructure and operational expertise, enabling mobility platforms to expand their services across both traditional and autonomous transportation. The company is supported by a group of global investors, including Mubadala, Woven Capital, Uber, BlackRock, Prosus, MUFG, Quona Capital, FJ Labs, Speedinvest, Silverbacks Holdings, Endeavor Catalyst, Clocktower Ventures, Left Lane, LocalGlobe, Monashees and Valor, among others.
