Moove Raises $250M to Build AV Infrastructure and Scale Fleets

Moove today announced it has raised $250 million in Series C funding, bringing its valuation to $2.1 billion. The company plans to use the funds to expand its autonomous vehicle business, which includes owning autonomous fleets and operating robotics-first depot infrastructure called 'Nests.' At these Nests, Moove will charge, service, maintain, and orchestrate autonomous fleets for continuous operation.

Additionally, Moove intends to support new market launches worldwide. As part of this expansion, the company expects to grow its autonomous vehicle workforce by more than 220% by the end of the year, increasing from around 150 employees today to 500.

Ladi Delano, co-founder, co-CEO, and advisory board chairman of Moove, emphasized the significance of infrastructure in technological revolutions. 'Every major technology revolution becomes an infrastructure race,' he said. '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. In our view, as autonomy scales, infrastructure ownership and operations will define the category leaders. We are building to be one of them.'

The funding round was led by Mubadala Investment Company, Woven Capital, Toyota's Growth Fund, and Ion Pacific. Other participants included BlueCrest Capital Management, Sona Asset Management, The Raptor Group, BlackRock, MUFG, Franklin Templeton, Uber, Left Lane, Silverbacks Holdings, Square Associates, The Latest Ventures, Endeavor Catalyst, and the Ontario Power Generation Pension Plan.

Scaling autonomous mobility requires more than vehicle technology alone. It depends on access to capital, fleet ownership, charging infrastructure, maintenance, operational orchestration systems, and 24/7 city-level execution. Moove is building that infrastructure layer to enable autonomous mobility to scale to large transportation networks.

Since 2020, Moove has built a capital, fleet, and operations platform to deploy and manage productive human-driven ride-hail mobility assets at scale. Today, the company employs 3,300 people globally and operates approximately 42,000 vehicles across 29 cities in 13 countries. It has expanded through organic growth and strategic acquisitions, including Kovi in Brazil and Tokyo Taxi in Japan.