Moove, the Dubai-headquartered mobility company that finances, owns, and operates vehicle fleets for ride-hail and robotaxi platforms, has raised $250 million in a Series C round at a $2.1 billion valuation. The company announced the round on August 5, 2026.
Mubadala Investment Company, the Abu Dhabi sovereign investor, led the financing, with co-leads Woven Capital, Toyota’s growth-stage venture fund, and Ion Pacific, a Hong Kong and US investment firm. BlueCrest Capital Management and Sona Capital joined as new investors, alongside existing backers BlackRock, MUFG, Franklin Templeton, Uber, Left Lane, Square Associates, The Latest Ventures, and the Ontario Power Generation Pension Plan. Mubadala has held a position in Moove since an initial investment three years ago.
The capital is earmarked for Moove’s autonomous vehicle business: autonomous fleet ownership, the robotics-first depot infrastructure the company calls Nests, and new market launches globally. Moove expects to grow its autonomous vehicle workforce from roughly 150 employees to about 500 by the end of 2026, an increase of more than 220%.
Moove’s pitch to investors rests on a specific thesis about where value sits in the robotaxi economy. Rather than building self-driving software, the company owns and operates the physical layer around it: the vehicles, the charging and maintenance depots, and the round-the-clock city operations that keep driverless fleets available. Through its partnership with Waymo, Moove is already one of the largest third-party autonomous fleet operators, with operations live in Phoenix and Miami and London confirmed as its first international expansion. Waymo has been steadily widening its own footprint, including dropping the waitlist in Dallas as freeway and airport testing advances.
Co-founder, co-CEO, and advisory board chairman Ladi Delano framed the round as an infrastructure bet in the announcement: “Every major technology revolution becomes an infrastructure race. The internet required data centres. AI required compute. Autonomy requires fleets, charging, maintenance, data systems and 24/7 operations in every city, and that is what Moove is building.”
Ali Eid AlMheiri, executive director of diversified assets on Mubadala’s UAE investments platform, tied the deal to the fund’s domestic strategy: “As autonomous mobility moves from innovation to scaled deployment, the infrastructure supporting it becomes increasingly important. Moove is building an integrated operating platform that combines fleet ownership, operational capability, and technology to support the next phase of growth in autonomous mobility.”
On August 12, 2026, law firm Greenberg Traurig disclosed its role advising Moove on the round, with a cross-border team led from its Dubai and Amsterdam offices. Moove chief legal officer Stavros Panayi described it as the most significant financing in the company’s journey to date.
Moove’s Series C by the Numbers
- $250 million raised in the Series C
- $2.1 billion post-round valuation
- $420 million in annual recurring revenue
- Approximately 42,000 vehicles across 29 cities in 13 countries
- More than 3,300 employees worldwide
- Autonomous workforce growing from about 150 to roughly 500 by the end of 2026
How Moove’s Fleet-and-Depot Model Works
Moove’s autonomous vehicle operation has three components. The first is fleet financing and ownership: Moove buys and holds the vehicles, so mobility platforms such as Waymo can deploy driverless services without carrying fleet assets on their own books. The second is the Nest, a robotics-first depot built for high-utilization charging, cleaning, inspection, and maintenance of autonomous fleets. The third is a 24/7 command layer handling city-level monitoring, response coordination, and utilization management to keep vehicles available around the clock.
That command layer leans heavily on human oversight even as the vehicles drive themselves, a dependency across the autonomous vehicle industry as deployments scale. It also sits alongside a broader push to open robotaxi development, with Nvidia recently releasing its Alpamayo 2 Super stack for commercial use.
From 76 Vehicles in Lagos to a Global Fleet Platform
Moove was founded in 2020 by Ladi Delano and Jide Odunsi, launching with 76 vehicles in Lagos, Nigeria, financing cars for ride-hail drivers. Five years later it operates what it describes as one of the largest ride-hailing fleets in the world and is Uber’s largest global fleet partner. Growth came through a mix of organic expansion and acquisitions, including the full purchases of Kovi in Brazil and Tokyo Taxi in Japan, and the company reached $420 million in ARR within five years of launch.
The Series C extends that operating model from human-driven fleets into autonomous ones. The logic is that driverless vehicles raise, rather than lower, the demand for physical infrastructure and operational precision, since a fleet with no driver must be charged, serviced, and dispatched continuously to generate returns.
What Happens Next for Moove’s Autonomous Business
The company has set a defined hiring target: expanding its autonomous vehicle workforce to about 500 employees by the end of 2026. London is confirmed as the first international market for its Waymo-partnered autonomous operations beyond the existing Phoenix and Miami deployments, with further cities to be announced. The round also funds new market launches globally across both its manned and autonomous businesses, with the London buildout marking the first test of whether the fleet-and-depot model exports beyond its US launch cities.
