Nigerian-founded mobility company Moove has closed a $250 million Series C round that values the firm at $2.1 billion. The round was led by Abu Dhabi’s Mubadala Investment Company and co-led by Toyota’s Woven Capital and Ion Pacific.
Additional participants include BlueCrest Capital Management, Sona Asset Management and The Raptor Group, alongside existing investors such as BlackRock, MUFG, Franklin Templeton, Uber, Left Lane and others. The capital will support Moove’s push into autonomous vehicle fleet management and the build-out of robotics-enabled depots it calls “Nests,” where self-driving cars can be charged, cleaned and maintained around the clock.
Founded in Lagos in 2020 by Ladi Delano and Jide Odunsi, Moove began by financing vehicles for ride-hailing drivers who lacked access to traditional credit. It has since grown into a global fleet operator with roughly 42,000 vehicles across 29 cities in 13 countries, employing about 3,300 people and generating approximately $420 million in annual recurring revenue. The company has expanded through organic growth and acquisitions, including Brazil’s Kovi and Japan’s Tokyo Taxi, and is now headquartered in Dubai.
Moove still operates a large human-driven ride-hailing fleet and continues to offer vehicle financing. At the same time it has positioned itself as a third-party operator of autonomous fleets through a partnership with Waymo, currently live in Phoenix and Miami, with London planned as its first international expansion city. Co-CEO Ladi Delano has described the long-term goal as owning and operating hundreds of thousands of vehicles in the robotaxi economy.
The new funding will also finance a sharp increase in the autonomous-vehicle team, from around 150 people to roughly 500 by year-end. Moove frames the next phase of mobility as an infrastructure challenge managing fleets, depots and 24/7 operations rather than purely a technology race among self-driving software developers.
At $2.1 billion, the valuation places Moove among the higher-valued companies with African origins and marks one of the larger single rounds announced by an African-founded startup in 2026. The test ahead is whether the capital converts into scaled, profitable autonomous operations while the core human-driven business continues to generate cash.
