Moove Raises $250 Million to Build Autonomous Vehicle Infrastructure

Moove has secured $250 million in Series C funding to accelerate the development of global infrastructure for autonomous vehicles (AVs). The investment values the mobility company at $2.1 billion and signals a strategic shift toward the physical orchestration of self-driving fleets.

The funding round was led by Mubadala Investment Company. Moove intends to use the capital to expand its autonomous vehicle business, focusing on fleet ownership and the creation of robotics-first depot infrastructure designed for the charging, servicing, and maintenance of AVs. The company also plans to enter new global markets and grow its specialized AV workforce.

From Gig Economy to Autonomy

Founded in Lagos in 2020, Moove began as a fintech-driven provider of vehicle financing and fleet management for gig workers on platforms such as Uber. The company scaled rapidly through organic growth and strategic acquisitions, including Tokyo Taxi in Japan and Kovi in Brazil. Today, Moove operates approximately 42,000 vehicles across 29 cities in 13 countries, reporting an annual recurring revenue (ARR) of $420 million.

Moove is now pivoting this experience in human-driven fleet orchestration toward the autonomous sector. By positioning itself as the "infrastructure layer," the company aims to provide the operational backbone that allows AV technology to transition from isolated pilots into commercial transportation networks.

The Infrastructure Gap

This shift highlights a growing trend in the autonomous industry: the separation of the "driver"—the AI software—from the "fleet," which encompasses the physical assets and daily operations. While software companies focus on navigation and safety, the massive requirement for urban charging, cleaning, and maintenance creates a logistical burden that many AV developers prefer to outsource.

Moove is already executing this model through a partnership with Waymo, serving as a third-party fleet operator. The company currently manages live operations in Phoenix and Miami, with plans to expand these services into London. Ladi Delano, Co-Founder and Co-CEO of Moove, noted that while the internet required data centers and AI required compute, autonomy requires a comprehensive system of fleets, charging, and 24/7 operations in every city.

Scaling the Network

As AV companies move toward larger urban deployments, the demand for standardized, scalable depot infrastructure is expected to rise. Moove's ability to secure significant capital and align with major industry players suggests that the physical operational layer will be as critical to the success of autonomy as the software itself.

Observers will now be watching for Moove's progress in London and the speed at which it can deploy its robotics-first depots to support the next generation of autonomous ride-hailing services.