Moove announced a $250m Series C on 5 August at a $2.1bn valuation, led by Abu Dhabi's Mubadala and co-led by Woven Capital — Toyota's growth fund — and Ion Pacific. BlueCrest and Sona Capital joined; BlackRock, MUFG, Franklin Templeton, Uber and Left Lane were already on the register.
What it sells
Not autonomy. Moove builds and runs the physical layer autonomous fleets need to operate: robotics-first depots it calls Nests, where vehicles are charged, cleaned, serviced, maintained and dispatched for continuous duty. Waymo builds the driver; someone has to own the yard.
The existing business is not small
About 42,000 vehicles across 29 cities in 13 countries, 3,300+ employees, and $420m of annual recurring revenue. It manages Waymo fleets live in Phoenix and Miami, with London announced. Founded in 2020 by Ladi Delano and Jide Odunsi to finance ride-hail drivers in Africa, it has repositioned entirely.
The spend
The autonomous unit grows from roughly 150 to roughly 500 people by year-end, alongside new market launches. Tripling a team in five months is the kind of commitment that only makes sense if the depot contracts are already signed.
Not disclosed
How much of the $420m ARR comes from autonomous operations rather than legacy vehicle financing, and what the Waymo agreements are worth.