Autonomous vehicle (AV) mobility specialist Moove has raised $250 million in Series C funding at a valuation of $2.1 billion.
The investment in the Dubai-based ride-hailing company was led by Mubadala Investment Company and co-led by Woven Capital, Toyota’s Growth Fund and Ion Pacific.
BlueCrest Capital Management, Sona Asset Management and The Raptor Group also participated in the round.
The funding will boost Moove’s AV expansion, including autonomous fleet ownership and establishing “Nests,” or depot infrastructure, where “fleets are charged, serviced, maintained and orchestrated for continuous operation.”
The investment will also go toward expansion into new markets, including AV workforce growth of more than 220% to approximately 500 by the end of 2026.
“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,” said Ladi Delano, co-founder, co-CEO and advisory board chairman of Moove.
He added that since starting in Lagos five years ago, the company has evolved into a global platform, with the company now having the ability to “help take autonomy from breakthrough technology to everyday transportation.”
“As autonomous mobility moves from innovation to scaled deployment, the infrastructure supporting it becomes increasingly important,” said Ali Eid AlMheiri, executive director of diversified assets, UAE investments platform at Mubadala, “Moove is building an integrated operating platform that combines fleet ownership, operational capability and technology to support the next phase of growth in autonomous mobility.”
Moove announced the acquisition of Brazil-based mobility provider Kovi in early 2025.