Moove has successfully raised $250 million at a valuation of $2.1 billion to enhance its operations in the robotaxi industry. Founded in 2020 in Nigeria and now based in Dubai, the company aims to leverage its experience in vehicle financing and human-driven ride-hailing to manage autonomous vehicle operations.
The funding round, led by Mubadala Investment Company with participation from Woven Capital and Ion Pacific, will support Moove's plans to scale its autonomous vehicle fleet management business. The company currently operates a fleet of 42,000 vehicles across 14 countries and employs 3,300 people globally, while also providing financing to gig drivers.
Looking ahead, Moove has partnered with Waymo to operate its fleet in multiple cities, including Phoenix and Miami. The company intends to purchase robotaxis using debt financing and is developing automated depots, referred to as “nests,” to streamline vehicle maintenance and servicing. No further timeline was disclosed at the time of publication.
Editor's Note
Moove's transition from traditional ride-hailing to autonomous vehicle management highlights a significant shift in the mobility landscape. As companies like Moove seek to integrate advanced technologies into their operations, the competitive dynamics of the robotaxi market are likely to evolve, impacting investment strategies and operational efficiencies across the sector.
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