Moove raises $250M at $2.1B valuation to scale robotaxi fleet ops
Original: Moove raises $250M to become the backbone of the robotaxi industry
Why This Matters
Moove's model highlights the emerging fleet-operations layer as critical infrastructure in the robotaxi supply chain.
Moove, the Dubai-headquartered mobility company founded in Nigeria in 2020, raised $250M in a Series C round led by Mubadala Investment Company at a $2.1B valuation, targeting autonomous vehicle fleet management and operations at scale.
Moove, originally a vehicle financing startup operating in Africa, has secured $250 million in a Series C round at a $2.1 billion valuation. The round was led by Mubadala Investment Company, with Woven Capital and Ion Pacific as co-leads. The company currently operates a 42,000-vehicle human-driven ride-hailing fleet across 14 countries and employs 3,300 people globally. Its pivot into autonomous vehicles began in early 2023 after co-founder and co-CEO Ladi Delano identified a gap: no major player in the AV ecosystem — not developers, OEMs, nor marketplaces like Uber — wanted to own and operate the physical vehicles. Moove stepped in as fleet operator for Waymo in Phoenix, Miami, and Las Vegas, with London planned next. The company intends to use debt financing to purchase robotaxis outright, and Delano stated a long-term vision of owning 'hundreds of thousands' of AV units. Moove also already owns robotaxis from an undisclosed second AV developer. The $250M will fund AV fleet management expansion, the hiring of approximately 350 employees, and the development of automated vehicle depots called 'nests,' which will use robotics to handle charging and maintenance around the clock. Delano noted the company's traditional mobility segment is on track for full profitability in 2026.