Global mobility company Moove has successfully raised $250 million in a Series C funding round, achieving a new valuation of $2.1 billion. The round was led by Mubadala Investment Company and co-led by Woven Capital and Ion Pacific, signaling strong investor confidence. This capital injection is set to accelerate the development of Moove's global infrastructure platform, supporting the autonomous mobility market's shift from breakthrough technology to scaled deployment.
Fueling Global Expansion and Operations
The new capital is earmarked for the significant expansion of Moove's autonomous vehicle business and its entry into new global markets. This investment will directly support the growth of its autonomous fleet and the development of its robotics-first depot infrastructure, branded as "Nests". To facilitate this growth, the company plans a substantial recruitment drive, aiming to increase its autonomous vehicle workforce by more than 220% by year-end.
The Operating Layer for Autonomous Mobility
Moove is strategically focused on building the essential infrastructure layer required to operate autonomous mobility services at scale. Its comprehensive platform integrates fleet ownership, advanced charging solutions, vehicle maintenance, and sophisticated 24/7 operational orchestration systems. The company's approach acknowledges that scaling autonomous vehicles successfully depends on a robust physical and operational backbone, not just advanced vehicle technology.
From Human-Driven Success to Autonomous Leadership
The company is leveraging its extensive experience gained from its successful human-driven ride-hailing operations to inform its autonomous strategy. Moove has already grown to operate a fleet of approximately 42,000 vehicles across 29 cities worldwide, achieving $420 million in annual recurring revenue. This established expertise in large-scale fleet management and complex logistics provides a powerful foundation for deploying next-generation autonomous systems.
This transition recognizes that autonomous vehicles intensify the need for reliable physical infrastructure and precise operational execution. Through its established partnership with Waymo, Moove is already a leading third-party autonomous fleet operator. The company has active operations in Phoenix and Miami, with future expansion already announced for London.
Strong Backing from Strategic Investors
The funding round highlights significant confidence from lead investor Mubadala, which views Moove as a key platform for economic diversification and a hub for advanced technologies. Ali Eid AlMheiri of Mubadala emphasized the growing importance of supporting infrastructure as the autonomous mobility sector matures. This latest investment builds upon Mubadala's initial backing three years ago, reinforcing a strong and ongoing partnership.
Co-investors Woven Capital and Ion Pacific echoed this sentiment, expressing strong support for Moove's vision and proven execution capabilities. Betty Lee of Woven Capital praised the company's ability to build a global platform and solve the critical infrastructure challenges of next-wave mobility. This broad institutional backing from new and existing partners validates Moove's strategy to become a category leader.
This $250 million Series C round marks a pivotal moment for Moove, cementing its position as a defining infrastructure company for the autonomous economy. The funding provides the necessary resources for the company to scale its integrated platform globally, with the ultimate goal of redefining urban mobility. Moove is now strongly positioned to play a central role in transitioning autonomy from a novel concept to an everyday transportation solution.