3:43 am - August 24, 2026
The UAE-headquartered mobility company has raised $250 million at a $2.1 billion valuation in a Series C led by Mubadala, funding fleet, charging and depot infrastructure for autonomous vehicles.
Moove, the UAE-headquartered mobility company, has raised $250 million at a $2.1 billion valuation, according to a statement from Mubadala Investment Company on 5 August. Abu Dhabi’s sovereign investor led the Series C round, with Woven Capital, Toyota’s Growth Fund, and Ion Pacific as co-leads.
The money pays for Moove’s push into autonomous vehicle infrastructure. It funds autonomous fleet ownership and a network of robotics-first depots the company calls Nests, where driverless fleets are charged, serviced, maintained and dispatched around the clock. Moove will also open new markets. Its autonomous vehicle workforce rises from about 150 staff today to about 500 by the end of the year, a jump of more than 220 per cent.
BlueCrest Capital Management and Sona Capital joined the shareholder register in this round. They sit alongside existing backers including BlackRock, MUFG, Franklin Templeton, Uber, Left Lane and the Ontario Power Generation Pension Plan. Mubadala first invested in the company three years ago.
Ali Eid AlMheiri, executive director of diversified assets on Mubadala’s UAE Investments Platform, tied the deal to national strategy. “Mubadala is investing in enabling infrastructure and scalable platforms like Moove that support economic diversification and strengthen the UAE’s role as a hub for advanced technologies,” he said.
Ladi Delano and Jide Odunsi founded Moove in 2020, starting with 76 vehicles in Lagos. The company now runs about 42,000 vehicles across 29 cities in 13 countries and employs 3,300 people, with annual recurring revenue of $420 million. Acquisitions of Kovi in Brazil and Tokyo Taxi in Japan widened its footprint. It is Uber’s largest global fleet partner.
Its autonomous business rests on a partnership with Waymo, under which Moove runs third-party driverless fleets in Phoenix and Miami. London is confirmed as the first international city, with further markets to be named.
“Every major technology revolution becomes an infrastructure race,” said Delano, co-founder, co-chief executive and advisory board chairman. “The internet required data centres. AI required compute. Autonomy requires fleets, charging, maintenance, data systems and 24/7 operations in every city.”
For the UAE, the round pushes Abu Dhabi capital further into the physical layer of electrified and driverless transport. Charging capacity, depot throughput and vehicle uptime decide how quickly clean fleets scale in any city, and those assets sit outside the software stack that has drawn most autonomy funding to date. Moove’s anchor in the Emirates gives local operators and investors a direct line into that market as it grows.
