Moove said its expects autonomous mobility to become a foundational layer of future urban ecosystems, but first, the industry needs infrastructure. | Source: Moove
Moove today announced it raised $250 million in Series C funding. This latest round brings the company’s valuation to $2.1 billion.
The funding will support Moove’s expansion of its autonomous vehicle business, including autonomous fleet ownership and robotics-first depot infrastructure “Nests.” At these Nests, Moove will charge, service, maintain, and orchestrate autonomous fleets for continuous operation.
Additionally, Moove plans to use the funds to support new market launches around the world. 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 around 150 employees today to 500.
“Every major technology revolution becomes an infrastructure race,” Ladi Delano, the co-founder, co-CEO and advisory board chairman of Moove, said. “The internet required data centers. 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.”
Mubadala Investment Company, Woven Capital, Toyota’s Growth Fund, and Ion Pacific led the round. It also brings in BlueCrest Capital Management, Sona Asset Management, and The Raptor Group, further strengthening the depth of Moove’s institutional backing. BlackRock, MUFG, Franklin Templeton, Uber, Left Lane, Silverbacks Holdings, Square Associates, The Latest Ventures, Endeavor Catalyst, and the Ontario Power Generation Pension Plan also participated in the round.
For AVs to scale to a large transportation network, they need infrastructure
Through its partnership with Waymo, Moove is already a third-party autonomous fleet operator, with operations live in Phoenix, Miami and future operations in London. | Source: Moove
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 to enable autonomous mobility to scale to large 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. It has expanded through a combination of organic growth and strategic acquisitions, including Kovi in Brazil and Tokyo Taxi in Japan.
“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,” Delano said. “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.”
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.
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