MOOVE, a global mobility company founded six years ago by Ladi Delano and Jide Odunsi and headquartered in the United Arab Emirates, has raised $250 million in a Series C funding round, valuing the company at $2.1 billion. Initially launched as a vehicle financing startup targeting Africa’s ride-hailing and delivery markets, MOOVE has strategically expanded its operations and now manages a fleet of nearly 42,000 vehicles across 29 cities in 13 countries, including acquisitions like Kovi in Brazil and Tokyo Taxi in Japan. The company’s annual recurring revenue has grown to $420 million, reflecting its strong market traction and global reach.

A major element of MOOVE’s growth and innovation is its ambitious pivot toward autonomous vehicle ownership and operations. Starting in 2023, MOOVE engaged with numerous autonomous vehicle technology companies and secured a partnership with Waymo, positioning itself as a key fleet operator for the autonomous taxi industry. This includes managing autonomous Waymo fleets in major cities such as Phoenix, Miami, Las Vegas, and plans to expand to London. This move aligns with MOOVE’s long-term vision to be a central infrastructure player in the robotics and autonomous mobility sectors.

The recent investment round was led by Mubadala Investment Company and co-led by Woven Capital, Toyota’s growth fund, and Ion Pacific, with additional participation from BlueCrest Capital Management, Sona Asset Management, The Raptor Group, and existing investors. These backers also include major global financial institutions and corporations like BlackRock, Franklin Templeton, Uber, and others, signaling strong confidence in MOOVE’s growth strategy. The fresh capital aims to accelerate MOOVE’s expansion into new markets and scaling of its autonomous vehicle fleet and robotics-first depot infrastructure worldwide.

MOOVE currently employs 3,300 people globally and is preparing for significant growth, targeting to increase its autonomous vehicle workforce by over 220% by the end of 2026. As Ladi Delano explained, MOOVE is focused on building the critical infrastructure needed to support the widespread adoption of autonomous vehicles, including fleets, charging, maintenance, data systems, and 24/7 operations. The company believes that as the autonomous mobility revolution grows, leadership will depend on owning and operating this infrastructure, a race in which MOOVE aims to be a front-runner.