Moove has raised $250M at a $2.1B valuation to scale its global autonomous mobility infrastructure. The round was backed by Mubadala and Toyota's Woven Capital to accelerate the company's growth in the AV sector.
The round was led by Mubadala Investment Company and co-led by Woven Capital, Toyota's growth fund, alongside Ion Pacific. New investors BlueCrest Capital Management and Sona Capital also participated.
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The company joins an institutional investor base that includes BlackRock, MUFG, Franklin Templeton, Uber, Left Lane Capital, Square Associates, The Latest Ventures, and the Ontario Power Generation Pension Plan.
Scaling Autonomous Mobility Infrastructure
The latest funding will support the expansion of Moove's autonomous vehicle (AV) business, including investments in autonomous fleet ownership and robotics-powered depot infrastructure. It also marks a milestone for the Nigeria-founded company, which has evolved into one of the world's largest mobility platforms.
Rather than developing self-driving technology itself, Moove is positioning itself as the operational backbone that enables autonomous mobility to function at scale.
The company is investing in what it calls "Nests", robotics-first depots where autonomous vehicles are charged, serviced, maintained, and coordinated. These facilities are designed to provide the physical infrastructure required for commercial autonomous fleets.
According to Moove, the future of transportation depends not only on smarter vehicles but also on the supporting ecosystem of fleet ownership, maintenance, and logistics.
Global Expansion and Workforce Growth
The new capital will fund international expansion and significantly increase the company's workforce. Moove expects to grow its AV-focused team by more than 220%, increasing from approximately 150 employees today to around 500 by the end of the year.
Founded in 2020 by Ladi Delano and Jide Odunsi, Moove initially addressed mobility challenges in Africa by providing vehicle financing for drivers. Five years later, the company has transformed into a global platform operating approximately 42,000 vehicles across 29 cities in 13 countries.
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Moove now employs more than 3,300 people worldwide. It has grown to US$420 million in annual recurring revenue through a combination of organic expansion and strategic acquisitions, including Kovi in Brazil and Tokyo Taxi in Japan.
Partnerships and Operational Strategy
The company has increasingly shifted its focus toward autonomous technology through partnerships with leading driving companies. A key pillar of this growth strategy is its partnership with Waymo.
Moove currently operates as one of Waymo's leading third-party fleet partners. It manages autonomous vehicle operations in Phoenix and Miami, with future deployment planned in London.
By leveraging its expertise in fleet management, charging, and logistics, the company aims to become the preferred partner for autonomous operators globally. Co-CEO Ladi Delano noted that every major technological revolution is defined by its infrastructure.
"The internet requires data centres. Artificial intelligence requires computing power. Autonomous mobility requires fleets, charging infrastructure, maintenance, data systems and around-the-clock operations. That is exactly what Moove is building."
Why Moove Matters to the GCC
Moove's funding reinforces the GCC's growing role as a hub for next-generation mobility infrastructure. With Mubadala leading the US$250 million investment, the UAE is backing a key player as autonomous transportation moves to commercial deployment.
The investment aligns with the UAE's ambitions to become a leader in smart mobility and advanced transport technologies. This supports regional development plans such as the UAE's Smart City initiatives and Saudi Vision 2030.
Moove's expansion demonstrates how Gulf sovereign capital is investing in globally scalable technology. As adoption accelerates, the GCC is positioning itself as a strategic investor shaping the future of intelligent transportation.
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