Moove secures $250 million to expand its autonomous robotaxi fleet

Moove, originally a vehicle-financing startup that expanded into ride-hailing and deliveries across Africa, announced a $250 million Series C funding round that places its valuation at $2.1 billion. The round was spearheaded by Mubadala Investment Company, with Woven Capital and Ion Pacific co-leading, and included a slate of global investors such as BlueCrest Capital Management, BlackRock, Uber and others. The company continues to operate a 42,000-vehicle human-driven fleet in 14 nations while also providing financing to gig drivers.

In early 2023 Moove entered the autonomous-vehicle space, securing a partnership with Waymo to operate robotaxis in Phoenix, Miami, Las Vegas and future plans for London, and already owns some robotaxis from an undisclosed developer. Funding will be used to scale the autonomous fleet business, add about 350 employees, and build “Nests,” automated depots that handle charging, servicing and cleaning around the clock. Moove aims to eventually own and orchestrate hundreds of thousands of robotaxis.