Moove secures $250 million to scale robotaxi fleet operations

Series C supports autonomous fleet expansion

Moove has raised $250 million in a Series C round at a $2.1 billion valuation to expand its autonomous-vehicle fleet management business. Mubadala Investment Company led the financing, while Woven Capital and Ion Pacific joined as co-leads.

Founded in Nigeria in 2020 and now headquartered in Dubai, Moove built its business through vehicle financing for gig drivers and operations of human-driven ride-hailing fleets. It currently owns and operates 42,000 ride-hailing vehicles across 14 countries and employs 3,300 people globally.

The company said the new capital will fund the scaling of its autonomous-vehicle operations and the hiring of about 350 people. Ladi Delano, Moove’s co-founder and co-CEO, said its traditional mobility business is expected to reach full profitability this year.

Operating the vehicles rather than developing them

Moove began examining autonomous vehicles in early 2023. Delano identified four groups in the emerging market: AV developers, vehicle manufacturers, marketplaces such as Uber, and consumers. Moove concluded that managing the physical fleet—operations, servicing, maintenance, cleaning and lost property—was a role its existing experience could address.

Moove is the fleet operator for Waymo in Phoenix, Miami and Las Vegas, with London planned for the future. It does not own Waymo’s vehicles today, but intends to buy robotaxis with debt financing. Delano did not give a schedule for those purchases. Moove already owns robotaxi vehicles from another autonomous-vehicle developer, which it did not name.

Industry developments around Waymo and emerging AV deployment rules show how AV deployment increasingly depends on vehicle platforms and fleet infrastructure alongside the self-driving system. Moove’s model focuses on owning, operating and orchestrating vehicles through partnerships rather than building autonomous-driving technology itself.

Automated depots remain a future product

Part of the Series C proceeds will support “Nests,” automated depots intended to run around the clock. Moove says the facilities will use robotics to automate charging, maintenance and servicing. About 15 depots are in some stage of development.

Delano did not say when lights-out depots would enter service, describing them as a future product. Other investors in the round include BlackRock, MUFG, Franklin Templeton, Uber, Left Lane and Endeavor Catalyst.

For businesses planning autonomous mobility services, Moove’s funding underlines the operational work that sits behind a robotaxi launch: fleet availability, maintenance, charging and customer-facing handling require a defined operating model as well as an AV technology partner.