Moove raises $250M to become the backbone of the robotaxi industry
Moove has raised $250 million in a Series C funding round to expand its vehicle financing and fleet management business into the autonomous vehicle sector. The company is leveraging its experience in human-driven ride-hailing to become a fleet operator for partners like Waymo.
Why it matters
This investment highlights the growing need for specialized infrastructure and fleet management services to support the commercial scaling of autonomous robotaxi networks.
Moove’s evolution from a vehicle financing startup to ride-hailing and deliveries in Africa to one that also owns and autonomous vehicles may seem like a leap. But co-founder and co-CEO Ladi Delano said the experience in financing and human-driven ride-hailing fleets was the ideal training ground for its latest pursuit.
And now, it has raised $250 million at a $2.1 billion valuation to scale that business.
The company, founded in 2020 in Nigeria and now headquartered in Dubai, said Mubadala Investment Company led this latest, Series C round with Woven Capital and Ion Pacific as co-leads.
Moove is still very much in the human-driven ride-hailing business. It owns and operates a 42,000-vehicle ride-hailing fleet across 14 countries. The company, which employs 3,300 people globally, also still provides vehicle financing to gig drivers.
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