Moove raises $250M for autonomous vehicle infrastructure

Moove announced its $250 million Series C funding round with a valuation of $2.1 billion, marking a significant expansion of its autonomous vehicle infrastructure business. The funding was led by Mubadala Investment Company, Woven Capital, Toyota's Growth Fund, and Ion Pacific, with participation from BlueCrest Capital Management, Sona Asset Management, and The Raptor Group. 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.

The capital will fuel two parallel expansions: growth of Moove's autonomous fleet operations and a significant expansion of its workforce. Moove plans to grow its autonomous vehicle workforce by more than 220% by the end of the year, increasing from around 150 employees to 500. Geographically, the company will launch autonomous operations in new markets globally, with London confirmed as a future location alongside existing live operations in Phoenix and Miami through a partnership with Waymo.

At the core of Moove's strategy are "Nests"—robotics-first depot infrastructure where Moove will charge, service, maintain, and orchestrate autonomous fleets for continuous operation. Co-founder, co-CEO, and advisory board chairman Ladi Delano explained the rationale: "Every major technology revolution becomes an infrastructure race. 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." Delano added that infrastructure ownership and operations will define category leaders as autonomy scales.

Moove entered this fundraise as an already-established mobility operator. Since 2020, the company has built a capital, fleet, and operations platform for human-driven ride-hail services, now employing 3,300 people globally and operating approximately 42,000 vehicles across 29 cities in 13 countries. The company has expanded through organic growth and acquisitions including Kovi in Brazil and Tokyo Taxi in Japan. Delano framed the shift into autonomous as a natural extension of Moove's existing mission: "We started in Lagos with a simple insight: mobility demand is abundant, but supply cannot scale unless capital, technology and operations move together. Today, we are focused on building the platform that will redefine mobility and enable billions of autonomous journeys worldwide."