Moove, the global mobility company building the operating layer for autonomous mobility, has raised $250 million in a Series C funding round at a $2.1 billion valuation, as the company moves to expand its autonomous vehicle infrastructure globally.
The round was led by Mubadala Investment Company and co-led by Woven Capital, Toyota’s Growth Fund, and Ion Pacific. The funding round also attracted BlueCrest Capital Management, Sona Asset Management and The Raptor Group, strengthening Moove’s institutional backing as it enters its next phase of growth.
Moove said the new capital will support the expansion of its autonomous vehicle business, including autonomous fleet ownership and its robotics-first depot infrastructure, known as “Nests”. The facilities are designed to charge, service, maintain and orchestrate autonomous fleets for continuous operation.
The company will also use the funding to support new market launches globally. As part of its expansion plans, Moove expects to increase its autonomous vehicle workforce by more than 220% by the end of 2026, growing from approximately 150 employees to about 500.
Moove is positioning itself as an infrastructure provider for the emerging autonomous mobility economy, arguing that large-scale autonomous transportation requires more than vehicle technology. The company highlighted the need for fleet ownership, capital, charging infrastructure, maintenance, operational systems and round-the-clock city-level execution.
Since launching in 2020, Moove has built a platform for financing, deploying and managing human-driven ride-hailing vehicles. The company now employs 3,300 people globally and operates approximately 42,000 vehicles across 29 cities in 13 countries. It has expanded through organic growth and acquisitions, including Kovi in Brazil and Tokyo Taxi in Japan, and has reached an annual recurring revenue of $420 million.
The company is now extending this operating model into autonomous mobility. Through its partnership with Waymo, Moove is already operating as a third-party autonomous fleet operator, with operations live in Phoenix and Miami and future operations planned for London.
Moove said its autonomous strategy is built on five years of experience operating mobility infrastructure at scale, beginning with an initial deployment of 76 vehicles in Lagos. The company believes this experience will help it address the infrastructure and operational requirements associated with the expansion of autonomous vehicles.
