Moove announced Wednesday that it secured $250 million in Series C financing at a post-money valuation of $2.1 billion. Mubadala Investment Company led the round with co-lead participation from Woven Capital, the growth fund backed by Toyota, and Ion Pacific. The company said in a statement that additional investors included BlueCrest Capital Management, Sona Asset Management and Raptor Group alongside existing backers such as BlackRock and Uber.
According to the statement, the capital will fund expansion of Moove’s autonomous vehicle fleet ownership model and deployment of robotics-first Nests designed for vehicle charging, maintenance and fleet orchestration. The release added that the company intends to increase its headcount from around 150 to nearly 500 employees by the end of the year. Moove has initiated autonomous ride-hailing services in Phoenix and Miami and is preparing to launch operations in London through a partnership with Waymo, the announcement stated.
The company reported that it has financed more than 42,000 vehicles across 29 cities in 13 countries and maintains a workforce of 3,300. Moove generated $420 million in annual recurring revenue, according to figures in the statement. Founded in 2020 by Ladi Delano and Jide Odunsi, the firm initially focused on vehicle financing for mobility entrepreneurs before pivoting toward autonomous systems.
A TechCrunch article from March 2024 noted that Moove had completed a $100 million round led by Uber with participation from Mubadala that lifted its valuation to $750 million at the time. FinSMEs data from earlier coverage placed Moove’s cumulative equity raised prior to the latest round at roughly $250 million. The new funding reflects continued investor interest in the firm’s evolution toward full autonomous mobility infrastructure.
The statement highlighted that Moove’s existing operations already support autonomous capabilities in select markets through its established network of financed fleets and depot infrastructure. It added that the fresh resources will enable deeper integration of robotics and 24/7 orchestration across additional regions. The release described the round as a step that positions the company to scale its global footprint in the autonomous sector.
