Moove Raises $250M to Become Robotaxi Industry Backbone

Moove, a mobility and fleet management firm headquartered in Dubai, has secured $250 million in a Series C funding round, valuing the company at $2.1 billion. Led by Abu Dhabi’s Mubadala Investment Company with co-leads from Woven Capital and Ion Pacific, the capital injection signals a strategic expansion into autonomous vehicle infrastructure. While the company continues to operate a 42,000 vehicle human-driven ride-hailing fleet across 14 countries, its primary focus is shifting toward establishing itself as a foundational operator in the robotaxi ecosystem. Founded in 2020, Moove is capitalizing on its extensive experience in fleet management and gig economy financing to address a structural gap in the autonomous sector. Co-CEO Ladi Delano noted that AV developers, automakers, and ride-hailing platforms generally avoid direct vehicle ownership, creating operational bottlenecks in logistics, maintenance, and servicing. Moove positioned itself to fill this void by partnering with leading autonomous manufacturers. The company currently serves as the fleet operator for Waymo in Phoenix, Miami, Las Vegas, and London. Although it does not yet own the Waymo vehicles, Moove plans to acquire them through debt financing and has already taken possession of autonomous units from an undisclosed developer. The company aims to eventually manage a fleet numbering in the hundreds of thousands. The newly raised capital will fund the hiring of approximately 350 staff members dedicated to scaling autonomous operations. A significant portion will also finance the development of automated depots, internally termed Nests. These facilities are designed for continuous operation, utilizing robotics to automate charging, maintenance, and cleaning processes. Fifteen depots are currently under construction, with fully autonomous lights-out operations planned for future rollout. Alongside this expansion, Moove’s traditional mobility division is on track to achieve full profitability this year, reinforcing the company’s financial stability. Additional participants in the funding round include Uber, BlackRock, BlueCrest Capital Management, and the Ontario Power Generation Pension Plan, reflecting strong institutional backing for Moove’s infrastructure-led growth strategy.