Moove Raises $250M Series C at $2.1B Valuation to Scale Autonomous Mobility Infrastructure

Jide Odunsi and Ladi Delano, Moove co-founders

Global mobility company Moove is now a unicorn, following its latest $250 million Series C funding round, which values the company at $2.1 billion. The milestone makes Moove one of the latest privately held mobility companies to surpass the $1 billion valuation threshold, reflecting growing investor confidence in its autonomous mobility infrastructure strategy.

The round was led by Mubadala Investment Company and co-led by Woven Capital, Toyota’s Growth Fund, and Ion Pacific.

The financing also attracted BlueCrest Capital Management and Sona Capital, adding to Moove’s existing institutional investor base, which includes BlackRock, MUFG, Franklin Templeton, Uber, Left Lane, Square Associates, The Latest Ventures, and the Ontario Power Generation Pension Plan.

The latest financing gives Moove additional capital to expand its autonomous vehicle business and accelerate its transition from a human-driven ride-hailing fleet operator into a broader autonomous mobility infrastructure platform.

How will Moove use the $250 million funding?

Moove plans to deploy the new capital across several areas of its autonomous mobility strategy, with an emphasis on fleet ownership, physical infrastructure, operations, and international expansion.

Key priorities include:

• Autonomous vehicle fleet expansion: Increasing Moove’s ownership and operation of autonomous vehicle fleets.
• Robotics-first “Nests”: Developing specialized depots where autonomous fleets can be charged, serviced, maintained, and orchestrated for continuous operations.
• New market launches: Supporting Moove’s expansion into additional global markets.
• Workforce expansion: Growing its autonomous vehicle workforce by more than 220%, from approximately 150 employees to 500 by the end of 2026.
• Operational infrastructure: Expanding the systems required to manage charging, maintenance, servicing, logistics, and fleet orchestration.

The strategy reflects Moove’s view that autonomous mobility will require significantly more than autonomous driving technology. Scaling autonomous vehicles commercially also requires capital, fleet ownership, charging infrastructure, maintenance, data systems, and 24/7 operational capabilities.

Why is infrastructure becoming critical to autonomous mobility?

The autonomous vehicle industry has largely focused on vehicle technology, software, sensors, and artificial intelligence. Moove is positioning itself around a different part of the value chain: the infrastructure required to operate autonomous fleets at scale.

Autonomous vehicles need to be continuously charged, maintained, serviced, dispatched, monitored, and integrated into city-level transportation networks. That creates an infrastructure challenge that becomes increasingly complex as fleets grow.

Moove is seeking to address this gap through an integrated operating model spanning:

Autonomous mobility requirement	Moove’s role
Fleet ownership	Own and operate autonomous vehicle fleets
Charging	Provide infrastructure to keep fleets operational
Maintenance	Service and maintain vehicles through dedicated facilities
Fleet orchestration	Coordinate autonomous vehicles and operations
Depot infrastructure	Develop robotics-first “Nests”
Logistics	Support vehicle movement, servicing, and deployment
City operations	Manage continuous, 24/7 mobility operations
Market expansion	Deploy the operating model across new cities and countries

This positions Moove beyond the traditional ride-hailing model. Rather than simply connecting passengers with vehicles, the company is building the physical and operational infrastructure required to keep autonomous transportation networks running.

How large is Moove’s existing mobility platform?

Moove has built its operating platform since 2020, initially focused on providing productive human-driven mobility assets at scale.

The company now employs approximately 3,300 people globally and operates around 42,000 vehicles across 29 cities in 13 countries. Moove has also grown to approximately $420 million in annual recurring revenue (ARR).

Its expansion has included both organic growth and strategic acquisitions, including Kovi in Brazil and Tokyo Taxi in Japan.

These existing capabilities provide Moove with a foundation for its autonomous mobility strategy. The company can apply its experience in fleet operations, vehicle servicing, charging, logistics, and mobility management to autonomous vehicles.

How is Moove working with Waymo on autonomous vehicles?

Moove is extending its existing operating model into autonomous mobility through its partnership with Waymo, the autonomous driving technology company.

Through the partnership, Moove is already operating as a third-party autonomous fleet operator, with operations live in Phoenix and Miami and planned future operations in London.

The relationship gives Moove an opportunity to apply its fleet and operational expertise to autonomous vehicles while expanding its role in the emerging autonomous mobility value chain.

As autonomous fleets become more commercially deployed, Moove expects the infrastructure supporting these vehicles to become as important as the autonomous driving technology itself.

Why is Moove expanding its autonomous vehicle workforce by 220%?

Moove expects its autonomous vehicle workforce to increase from approximately 150 employees to around 500 by the end of 2026, representing growth of more than 220%.

The planned expansion reflects the operational complexity of autonomous mobility. While autonomous vehicles reduce the need for human drivers, they do not eliminate the need for people managing the infrastructure surrounding those vehicles.

Moove’s autonomous operations require capabilities across areas including:

• Fleet management
• Vehicle servicing and maintenance
• Charging operations
• Depot management
• Robotics
• Logistics
• Data and technology
• City-level operations
• Autonomous fleet orchestration

This workforce expansion suggests Moove is investing not only in autonomous vehicles but also in the operational layer needed to commercialize them.

What does Moove’s UAE presence mean for its autonomous mobility strategy?

Moove’s UAE presence is becoming an important component of its international expansion strategy.

Ladi Delano, Co-Founder, Co-CEO and Advisory Board Chairman of Moove, said the company sees autonomy as an infrastructure race comparable to previous technology shifts that created demand for data centers and computing infrastructure.

Moove began in Lagos with a model designed to address the gap between abundant mobility demand and limited access to scalable vehicle supply. Since 2020, that model has expanded into a global platform spanning 13 countries and 29 cities.

The company now intends to apply that operating model to autonomous transportation, with the UAE serving as an important anchor for its next phase of growth.

For Mubadala, the investment also aligns with the UAE's broader focus on economic diversification and advanced technology infrastructure.

Ali Eid AlMheiri, Executive Director of Diversified Assets, UAE Investments Platform at Mubadala, said Moove's integrated approach to fleet ownership, operations, and technology is particularly relevant as autonomous mobility moves toward scaled deployment.

What do Moove’s investors say about the company’s strategy?

The latest financing brings together investors from mobility, technology, financial services, and institutional capital, reflecting the growing interest in the infrastructure required to commercialize autonomous transportation.

Betty Lee, Principal at Woven Capital, highlighted Moove’s ability to operate across both traditional and autonomous vehicle fleets, arguing that the next phase of mobility will be an infrastructure challenge as much as a software challenge.

Michael Joseph, Co-CEO and Co-Founder of Ion Pacific Limited, similarly emphasized Moove’s role in building the infrastructure layer required to move autonomous mobility from technological possibility toward commercial deployment.

Mubadala’s continued investment also reinforces its confidence in Moove’s ability to scale its platform. Mubadala initially invested in the company three years before the 2026 Series C and is now supporting its next phase of expansion.

What does Moove’s $2.1 billion valuation mean for the autonomous mobility market?

Moove’s $2.1 billion valuation following its $250 million Series C underscores the increasing investor focus on the infrastructure surrounding autonomous vehicles.

The company is positioning itself around a market opportunity that extends beyond autonomous driving technology. As autonomous fleets expand, operators will need infrastructure for:

1. Vehicle deployment
2. Charging and energy management
3. Maintenance and servicing
4. Fleet orchestration
5. Depot automation
6. Logistics
7. 24/7 city-level operations

Moove’s thesis is that the companies capable of combining these functions into a scalable operating platform could become critical infrastructure providers for autonomous transportation.

The opportunity could extend beyond ride-hailing into logistics, public transportation, commerce, and urban infrastructure, as autonomous vehicles become increasingly integrated into city transportation networks.

What does Moove’s Series C mean for the future of autonomous mobility?

Moove’s Series C represents a significant expansion of its ambitions. The company is moving from operating large-scale human-driven mobility fleets toward building the infrastructure required for autonomous transportation.

With $250 million in new funding, a $2.1 billion valuation, approximately 42,000 vehicles, 3,300 employees, operations across 29 cities and 13 countries, and a target of increasing its autonomous workforce by more than 220% in 2026, Moove enters its next phase with a substantially larger operational platform.

The company's strategy reflects a broader shift in autonomous mobility: the competitive advantage may increasingly depend not only on who develops the best autonomous vehicle technology, but also on who can deploy, operate, maintain, and scale those vehicles efficiently across cities.

Moove is betting that this infrastructure layer will become essential to making autonomous mobility commercially viable at global scale.

 

 

FAQs

1. How much funding did Moove raise in its Series C?
Moove raised $250 million in Series C funding in 2026 at a $2.1 billion valuation. The round was led by Mubadala Investment Company and co-led by Woven Capital, Toyota’s Growth Fund, and Ion Pacific.

2. What will Moove use its $250 million funding for?
Moove will use the funding to expand its autonomous vehicle business, develop robotics-first “Nests” for charging and maintenance, launch new markets, and expand its autonomous mobility workforce.

3. How many vehicles does Moove operate?
As of 2026, Moove operates approximately 42,000 vehicles across 29 cities in 13 countries and employs around 3,300 people globally.

4. What is Moove’s partnership with Waymo?
Moove operates as a third-party autonomous fleet operator for Waymo. Its autonomous operations are currently live in Phoenix and Miami, with future operations planned for London.

5. Why is Moove focusing on autonomous mobility infrastructure?
Moove believes autonomous transportation requires more than autonomous driving technology. Fleet ownership, charging, maintenance, depots, logistics, orchestration, and 24/7 operations are all necessary to scale autonomous mobility across cities.