Moove Raises $250 Million at $2.1 Billion Valuation to Scale the Global Infrastructure Layer for Autonomous Mobility

Moove announced a $250 million Series C financing round led by Mubadala Investment Company, with Woven Capital and Ion Pacific co‑leading, valuing the company at $2.1 billion. The round will bankroll the company’s expansion as an infrastructure provider for autonomous mobility, funding fleet ownership, robotics‑first depot infrastructure and 24/7 operations. Founded in 2020 by Ladi Delano and Jide Odunsi, Moove currently manages roughly 42,000 vehicles across 29 cities in 13 countries and reports about $420 million in annual recurring revenue. The company also operates autonomous fleets in Phoenix, Miami and London through its partnership with Waymo.

“As autonomy scales, infrastructure ownership and operations will define category leaders,” said Ladi Delano. “Our ultimate aim is to own hundreds of thousands of robotaxis.”

Context and operational details

• Funding and investors: The $250 million Series C is led by Mubadala Investment Company, with Woven Capital and Ion Pacific listed as co‑lead investors. The raise sets Moove’s post‑money valuation at $2.1 billion.
• Business model shift: Moove began in 2020 financing ride‑hailing drivers in Africa. The company has since pivoted toward becoming a global infrastructure layer for autonomous mobility, moving from driver financing to fleet ownership and depot operations.
• Scale and revenue: Moove reports operating approximately 42,000 vehicles across 29 cities in 13 countries and generating around $420 million in annual recurring revenue, signalling substantial scale for a company that has broadened beyond its initial markets.
• Waymo partnership and markets: Through its partnership with Waymo, Moove manages autonomous fleets in Phoenix, Miami and London, providing hands‑on fleet operations for commercial robotaxi services.
• Workforce and capital allocation: The new capital will support hiring about 350 people dedicated to the autonomous vehicle business. A major investment priority is developing automated depots — branded as “Nests” — designed for continuous charging, maintenance and turnaround of robotaxis.
• Strategic aim: Executives portray ownership of physical infrastructure — depots, charging networks and operational teams — as the determinant of long‑term leadership in the robotaxi market, rather than software or individual vehicle hardware alone.

Outlook

With Mubadala and notable co‑investors backing the round, Moove is positioning itself to scale from fleet manager to fleet owner at a time when autonomy is moving from pilot projects to commercial deployments. The company’s plan to construct “Nests” and hire 350 people for autonomous operations points to a capital‑intensive strategy focused on 24/7 vehicle availability and maintenance. If Moove successfully converts managed fleets into owned robotaxis at scale, it could capture more of the long‑term revenue mix from ride revenue, maintenance services and depot operations.

Moove’s valuation at $2.1 billion underscores investor confidence in the thesis that physical infrastructure and operational capacity will be essential as robotaxis proliferate. The company’s reference goal of “hundreds of thousands of robotaxis” highlights an ambition to own a material portion of the emerging autonomous mobility stack rather than solely acting as a third‑party operator.