Moove Secures $250 Million in Series C Funding Led by Mubadala at $2.1 Billion Valuation to Scale Autonomous Vehicle Infrastructure
Moove, a global company specializing in building and developing operational infrastructure for the autonomous mobility sector, announced it has raised $250 million in a Series C funding round. Led by Mubadala Investment Company, the round values the mobility tech firm at $2.1 billion, with participation from Woven Capital (Toyota’s growth fund) and Aion Pacific.
Strong Institutional Backing
BlueCrest Capital Management and Sona Capital also joined the funding round, further bolstering the robust institutional support Moove currently enjoys. This adds to the backing from a roster of prominent existing investors—including BlackRock, Mitsubishi UFJ Financial Group (MUFG), Franklin Templeton, Uber, Left Lane Capital, Square Associates, The Latest Ventures, and the Ontario Power Generation Pension Fund—all rallying behind the next phase of Moove's growth trajectory.
Scaling AV Operations and "Nests"
The new capital injection will fuel the expansion of Moove’s operations within the autonomous vehicle (AV) sector. This includes scaling autonomous fleet ownership and developing its robotic depot infrastructure, known as "Nests." These specialized hubs are where AV fleets are charged, maintained, and operationally managed to guarantee continuous and seamless deployment.
As part of this aggressive expansion, a portion of the funds will be allocated to launching into new global markets. Furthermore, Moove projects its AV division workforce to surge by over 220% by the end of 2026, scaling its team from the current 150 employees to approximately 500.
Building the Foundation for Autonomous Mobility
Scaling autonomous mobility requires more than just advanced vehicle technology. Its success heavily relies on the availability of capital, fleet ownership, and an integrated charging and maintenance infrastructure operating under a single platform, coupled with 24/7 operational systems and field execution. To this end, Moove is building this foundational infrastructure to enable the AV sector’s transition from innovative tech pilots to large-scale, daily transportation networks.
From Traditional to Autonomous Fleets
Since 2020, Moove has successfully built a comprehensive platform encompassing the capital, fleets, and operational capabilities required to deploy and manage traditional human-driven ride-hailing assets at scale.
Today, the company operates one of the world's largest ride-hailing fleets, comprising roughly 42,000 vehicles across 29 cities in 13 countries, supported by a global workforce of around 3,300 employees. The company's expansion has been driven by both organic growth and strategic acquisitions, including the buyouts of "Kovi" in Brazil and "Tokyo Taxi" in Japan. Moove's Annual Recurring Revenue (ARR) currently stands at an impressive $420 million.
Strategic Partnerships and Future Outlook
Through its autonomous mobility division, Moove is adapting and scaling the operational model it refined over the past five years in traditional mobility, applying it directly to AV ecosystems. As autonomous vehicles increasingly demand reliable infrastructure and exceptional operational precision, Moove is leveraging its deep expertise in fleet operations, maintenance, battery charging, and logistics to meet this growing need.
Serving as a key independent operating partner for autonomous fleets through its strategic partnership with Waymo, Moove currently manages operations in Phoenix and Miami, with ambitious plans to expand into London.
Autonomous mobility is projected to become a fundamental pillar of future urban ecosystems, fundamentally reshaping the contours of logistics, public transportation, commerce, and urban infrastructure. This underscores the critical importance of platforms capable of managing and operating this infrastructure at scale, serving as the primary enabler for the transportation networks of tomorrow.