African mobility startup Moove has raised $250 million in a Series C funding round, reaching a $2.1 billion valuation as it expands its autonomous vehicle fleet business. The funding strengthens the company’s position as one of the fastest-growing African-founded startups operating in the global mobility sector.
The round was led by Abu Dhabi’s Mubadala, with participation from Woven Capital, Toyota’s growth fund, Ion Pacific, BlueCrest, Sona Asset Management and Raptor Group.
Founded in 2020 by Nigerian entrepreneurs Ladi Delano and Jide Odunsi, Moove began by financing vehicles for ride-hailing drivers who lacked access to traditional auto loans in Africa. The company has since evolved into a global fleet operator, managing both conventional and autonomous vehicle fleets across multiple international markets.
Moove now operates about 42,000 vehicles across 29 cities in 13 countries and generates approximately $420 million in annual recurring revenue (ARR). Rather than focusing solely on vehicle financing, the company provides fleet ownership, financing and operational services for mobility platforms, positioning itself as a key infrastructure provider for large-scale transportation networks.
Autonomous mobility has become a major part of Moove’s growth strategy. The company is Uber’s largest global fleet partner and also manages autonomous vehicle fleets through its partnership with Waymo. Its robotaxi operations are currently active in Phoenix and Miami, with London expected to become the next market.
As robotaxi services expand, operators increasingly need partners to manage the day-to-day running of their fleets. Moove handles services such as vehicle charging, maintenance, cleaning and fleet logistics, allowing autonomous driving companies to focus on developing self-driving technology while keeping vehicles on the road.
READ MORE: Nigerian Govt to Deploy 3,700 Rural Telecom Towers From October
To support its expansion, Moove plans to increase its autonomous vehicle workforce from about 150 employees to roughly 500 by the end of the year. The additional hiring will help the company meet growing demand for fleet operations as more autonomous vehicle services launch worldwide.
The latest funding reflects rising investor confidence in the infrastructure supporting autonomous transportation. While much of the industry’s attention remains on self-driving software and vehicle technology, companies that operate and maintain autonomous fleets are becoming an increasingly important part of the ecosystem.
With fresh capital and an expanding global footprint, Moove is positioning itself to play a larger role in the next phase of robotaxi growth while building on the business model it first developed in Africa.
