Nigeria-founded global mobility company, Moove, has secured $250 million in a Series C funding round, pushing its valuation to $2.1 billion as it intensifies efforts to build the infrastructure powering the next generation of autonomous transportation.
The investment, led by Mubadala Investment Company and co-led by Woven Capital, Toyota’s growth investment arm, and Ion Pacific, underscores growing investor confidence in the future of self-driving mobility.
Instead of focusing solely on autonomous vehicle technology, Moove stands as the operational backbone that enables autonomous fleets to function efficiently through vehicle ownership, maintenance, charging infrastructure and fleet management.
The latest capital injection will support international expansion, strengthen its autonomous mobility operations and significantly increase its specialised workforce as the company seeks to establish itself as a global leader in mobility infrastructure.
Global Investors Deepen Confidence in Moove’s Long-Term Vision
The latest financing round marks another milestone in Moove’s rapid evolution from a Nigerian startup into one of the world’s fastest-growing mobility companies.
Alongside lead investor Mubadala Investment Company, the round attracted participation from Woven Capital, Ion Pacific, BlueCrest Capital Management and Sona Capital, while strengthening an investor base that already includes globally recognised institutions such as BlackRock, MUFG, Franklin Templeton and Uber.
The calibre of investors reflects growing confidence in Moove’s long-term business strategy and its ability to play a defining role in the emerging autonomous transportation ecosystem.
Rather than viewing autonomous mobility solely as a software challenge, investors appear convinced that scalable operational infrastructure will become equally important.
As Moove Co-Founder and Co-CEO Ladi Delano observed, “Every major technology revolution becomes an infrastructure race,” arguing that autonomous transportation will require extensive investments in fleet operations, charging systems and city-wide logistics.
Building the Infrastructure Behind Self-Driving Transportation
While many companies are racing to develop self-driving technology, Moove is concentrating on an equally critical but often overlooked component, operating the fleets once autonomous vehicles become commercially widespread.
The company provides services that include vehicle ownership, fleet management, maintenance, charging operations and robotics-enabled depot infrastructure known as “Nests.”
These facilities are designed to ensure autonomous vehicles remain operational around the clock by serving as dedicated centres where fleets are charged, serviced, repaired and coordinated.
According to the company, scaling autonomous mobility requires considerably more than sophisticated driving software. It depends on reliable operational systems capable of supporting thousands of vehicles simultaneously.
As the company noted, autonomous transportation relies on “access to capital, fleet ownership, charging infrastructure, maintenance, operational orchestration systems, and 24/7 city-level execution,” areas where Moove intends to establish a competitive advantage.
From Lagos Startup to a Global Mobility Platform
Founded in Nigeria in 2020 by entrepreneurs Ladi Delano and Jide Odunsi, Moove has experienced remarkable international expansion within just five years. What initially began as a mobility financing platform has developed into a global fleet operations company serving multiple international markets.
Today, Moove operates approximately 42,000 vehicles across 29 cities spanning 13 countries while employing about 3,300 people worldwide.
The company has also expanded through strategic acquisitions, including Brazil-based Kovi and Tokyo Taxi in Japan, strengthening its presence in key international markets.
Its financial performance has grown alongside its operational footprint, with the company reporting approximately $420 million in annual recurring revenue (ARR).
Delano reflected on this journey by stating, “We started in Lagos with a simple insight, mobility demand is abundant, but supply cannot scale unless capital, technology and operations move together.”
That philosophy, he noted, has since evolved into a global platform serving markets far beyond Africa.
Drive for Expansion, Workforce Growth and New Markets
Moove plans to channel the newly secured funding into expanding its autonomous vehicle operations, constructing additional robotics-first “Nests,” launching services in new international markets and strengthening its specialised workforce.
A major priority will be talent acquisition. The company expects to increase the size of its autonomous mobility workforce from approximately 150 employees to around 500 before the end of the year, representing growth of more than 220 percent.
These investments are expected to enhance Moove’s operational capacity while enabling it to support larger autonomous fleets as demand increases.
By investing simultaneously in infrastructure, technology operations and human expertise, the company aims to position itself for sustained growth as autonomous transportation gradually transitions from pilot programmes to mainstream commercial deployment.
Why This Matters for the Future of Urban Mobility
Beyond the funding announcement, Moove’s broader strategy reflects a belief that the future of transportation will be shaped as much by infrastructure as by technological innovation itself.
The company argues that autonomous mobility will eventually influence logistics, public transportation, urban commerce and city planning, creating demand for large-scale operational platforms capable of managing increasingly sophisticated vehicle ecosystems.
Delano believes this represents the company’s defining opportunity, stating, “We are focused on building the platform that will redefine mobility and enable billions of autonomous journeys worldwide.”
If autonomous vehicles achieve widespread commercial adoption over the coming decade, companies responsible for operating, maintaining and coordinating those fleets could become indispensable players in the global mobility industry.
With fresh capital, expanding international partnerships and an ambitious infrastructure-focused strategy, Moove appears determined to establish itself among those future industry leaders.
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