UAE-based mobility firm Moove raises $250m in Series C round to accelerate autonomous vehicle operations and global expansion.
Moove, a UAE-based mobility company, has raised $250m in a Series C funding round, valuing the firm at $2.1bn. The investment was led by Mubadala Investment Company, with participation from Toyota’s Woven Capital and Ion Pacific. Proceeds will fund autonomous vehicle development, including fleet ownership and robotics-driven depot infrastructure called ‘Nests.’
The company operates 42,000 vehicles across 29 cities in 13 countries and reports $420m in annual recurring revenue. Moove plans to expand its autonomous vehicle workforce by over 220% by 2026, growing from 150 to 500 employees. The firm has grown through acquisitions, including Kovi in Brazil and Tokyo Taxi in Japan.
Moove’s expansion strategy includes launching new markets globally and scaling its autonomous fleet management platform. The company partners with Waymo to operate third-party autonomous vehicle fleets.