Moove Raises $250M at a $2.1B Valuation to Build the Robotaxi Infrastructure Layer

Moove, the mobility company that started in 2020 by financing vehicles for ride-hailing drivers in Africa, has raised $250 million in a Series C funding round at a $2.1 billion valuation. The round, led by Mubadala Investment Company and co-led by Woven Capital (Toyota's growth fund) and Ion Pacific, positions Moove as the physical infrastructure layer for the robotaxi industry . The company will use the capital to build automated depots, expand fleet ownership, and scale its partnership with Waymo into new cities .

What the $250M Series C Is For

The funding is earmarked for several concrete initiatives:

• Build "Nests": These are robotics-first, lights-out depots where autonomous vehicles are charged, cleaned, serviced, maintained, and dispatched without human intervention. Moove is developing over 15 depot sites across its operating regions .
• Expand autonomous fleet ownership: Moove plans to own the robotaxis it operates, not just manage them for third-party AV developers .
• Scale Waymo fleet operations: Moove already runs Waymo's fleets in Phoenix, Miami, and Las Vegas, with London announced as the next market .
• Hire approximately 350 new employees: This would roughly triple Moove's autonomous-vehicle-focused workforce from about 150 to 500 people by the end of 2026 .

How Moove Evolved from Vehicle Financing to Robotaxi Infrastructure

From where it started:

• Founded in Lagos, Nigeria, in 2020 by Ladi Delano and Jide Odunsi .
• Built a revenue-based vehicle financing business for ride-hailing and delivery drivers in Africa, addressing a credit gap where only a small fraction of new cars on the continent were bought with financing .
• Scaled from 76 initial vehicles in Lagos to owning and operating 42,000 human-driven vehicles across 14 countries, employing 3,300 people .

To what it is becoming:

• A fleet operator that owns, operates, and orchestrates autonomous vehicles for third-party AV platforms like Waymo .
• Building "Nests" — automated depots that use robotics for vehicle charging, maintenance, and servicing, designed for 24/7 lights-out operation .
• Long-term vision of owning hundreds of thousands of robotaxis globally .

Moove's Strategic Bet: Don't Build the Self-Driving Tech

Moove's key strategic insight is that it does not need to develop autonomous driving software itself. Instead, the company positions itself as the "operating layer" that AV companies like Waymo plug into — managing the physical fleet, depots, charging, cleaning, and maintenance so the AV companies can focus on the software . This mirrors the separation seen in other industries between hardware infrastructure and software platforms.

Investors and Board

The Series C round also includes new investors BlueCrest Capital Management, Sona Asset Management, and The Raptor Group, joining existing backers such as BlackRock, MUFG, Franklin Templeton, and Uber . Ladi Delano told Bloomberg that Moove's traditional mobility business is expected to achieve full profitability in 2026 .