Moove raises $250M to expand autonomous vehicle infrastructure

Moove, an autonomous mobility company, has raised $250 million in a Series C funding round, bringing its valuation to $2.1 billion. The investment was led by Mubadala, with Woven Capital and Ion Pacific participating as co-leads.

Originally founded in 2020 to finance vehicles for ride-hailing drivers across Africa, Moove has pivoted toward managing autonomous fleet infrastructure. The company operates “Nests,” which serve as specialized hubs where self-driving fleets can charge, undergo maintenance, and be serviced. Through a partnership with Waymo, Moove currently manages vehicles in Phoenix, Miami, and London.

Moove currently manages approximately 42,000 vehicles across 29 cities in 13 countries, reporting an annual recurring revenue of roughly $420 million.