Moove, a Dubai-headquartered mobility company, raised $250m in a Series C at a $2.1bn valuation, announced on 5 August 2026. Mubadala Investment Company led the round, with Woven Capital, Toyota's growth fund, and Ion Pacific co-leading.
BlueCrest Capital Management and Sona Capital also joined. Existing backers named in the announcement were BlackRock, MUFG, Franklin Templeton, Uber, Left Lane, Square Associates, The Latest Ventures and the Ontario Power Generation Pension Plan.
“Every major technology revolution becomes an infrastructure race.”Ladi Delano, Co-Founder, Co-CEO and Advisory Board Chairman, Moove
What Moove does
Moove finances, owns and operates vehicle fleets. Mubadala's release and The National describe it as Uber's largest global fleet partner. It also operates autonomous vehicle fleets for Waymo as a third-party operator, live in Phoenix and Miami, with London named as the first international expansion.
Moove said it runs about 42,000 vehicles across 29 cities in 13 countries, has more than 3,300 employees and reports annual recurring revenue of $420m. The National reported that the business grew through acquisitions including Kovi in Brazil and Tokyo Taxi in Japan.
The announcement describes a shift towards autonomous operations. Moove builds depots it calls Nests, which are robotics-first sites where autonomous fleets are charged, serviced and maintained. Its autonomous workforce is about 150 and is expected to reach about 500 by the end of the year, according to Wamda.
The company
Moove was founded in 2020 by Ladi Delano and Jide Odunsi, according to the release, and began in Lagos with a fleet of 76 vehicles. The National said it was founded in Nigeria in 2019 and entered Europe in 2022 with a rent-to-buy electric vehicle model in London, so sources differ on the founding year.
The National reported total funding of about $694m across 17 rounds, citing Crunchbase. Mubadala first invested in Moove three years ago.
The release says Moove began in Lagos and grew through organic expansion as well as acquisitions.
Who invested
Delano, co-founder and co-chief executive, said every major technology revolution becomes an infrastructure race. Ali Eid AlMheiri of Mubadala said the infrastructure supporting autonomy becomes increasingly important.
Betty Lee, a principal at Woven Capital, said the next wave of mobility is an infrastructure problem as much as a software one. Michael Joseph of Ion Pacific said his firm has worked with the Moove team for more than five years.
Mubadala's AlMheiri also said Moove has been a great partner and that the fund is glad to continue partnering with it in its next phase of growth.
What the money is for
Moove said the funds will expand its autonomous fleet ownership and Nests depot network, launch new markets and grow its autonomous workforce, by more than 220% according to Wamda. The National said the round is intended to more than triple the workforce.
Company website: moove.io