KUALA LUMPUR, Aug 5 (Bernama) -- Moove, a global mobility technology company, has raised US$250 million in a Series C funding round that values the company at US$2.1 billion, led by Mubadala Investment Company and co-led by Woven Capital, Toyota’s Growth Fund, and Ion Pacific. (US$1=RM4.09)
The funding will support Moove’s expansion of its autonomous vehicle business, including fleet ownership, autonomous vehicle infrastructure and its robotics-focused depot facilities known as “Nests”, where autonomous fleets are charged, serviced, maintained and managed.
The company also plans to expand into new markets and increase its autonomous vehicle workforce from about 150 employees to 500 by the end of the year.
Moove Co-Founder, Co-Chief Executive Officer and Advisory Board Chairman, Ladi Delano said the company is building the infrastructure needed to support autonomous mobility at scale.
“Autonomy requires fleets, charging, maintenance, data systems and 24/7 operations in every city — and that is what Moove is building,” he said in a statement.
Moove said scaling autonomous mobility requires more than vehicle technology, including access to capital, fleet operations, charging infrastructure, maintenance capabilities and operational systems. The company is building an infrastructure layer designed to support the deployment and management of autonomous transportation networks.
Since its founding in 2020, Moove has developed a mobility operations platform for human-driven ride-hailing services and now operates about 42,000 vehicles across 29 cities in 13 countries. It employs 3,300 people globally and has grown to US$420 million in annual recurring revenue (ARR) through organic expansion and acquisitions, including Kovi in Brazil and Tokyo Taxi in Japan.
Moove is extending its fleet management and operational expertise into autonomous mobility, where it operates autonomous vehicle fleets through its partnership with Waymo in Phoenix and Miami, with future operations planned in London.
The company said it is applying its experience in fleet orchestration, operations, servicing, charging and logistics to support the deployment of next-generation autonomous vehicle systems.
-- BERNAMA
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