Moove secures $250 million to expand autonomous vehicle infrastructure

Mobility company Moove has raised $250 million in a Series C funding round, reportedly valuing the business at $2.1 billion. The funding round was led by Mubadala, with participation from Toyota’s Woven Capital and Ion Pacific.

Co-founded in Lagos in 2020, Moove is shifting its focus from vehicle financing toward building the physical infrastructure required for autonomous car fleets. The company plans to develop “Nests”—specialized facilities designed for the charging, maintenance, repair, and dispatch of autonomous vehicles.

Moove currently manages approximately 42,000 vehicles across 29 cities in 13 countries. The company is developing partnerships with autonomous driving firm Waymo in Phoenix and Miami, while also preparing for a launch in London. As part of this expansion, Moove intends to increase its autonomous mobility workforce by more than 220%.