Moove is raising 250 million dollars for robotaxi infrastructure

Fleet operator Moove raised $250 million in a Series C funding round. The funds will primarily be invested in autonomous vehicle fleets and the necessary charging and depot infrastructure.

The funding round values Moove at $2.1 billion. It was led by Mubadala Investment Company alongside Woven Capital, Toyota’s growth fund, and Ion Pacific. Other investors include BlueCrest Capital Management, Sona Asset Management, and The Raptor Group.

Moove plans to use the fresh capital primarily to expand its business in autonomous vehicles. This includes building its own vehicle fleets as well as so-called “Nests”: depots designed specifically for autonomous vehicles where these electric cars are charged, maintained, and coordinated for operation. The funds will also be used to enter new markets.

“Autonomous mobility requires vehicle fleets, charging infrastructure, maintenance, data systems, and continuous operation seven days a week in every city,” says Ladi Delano, co-founder and co-CEO of Moove. The company aims to create an infrastructure layer that goes beyond the actual technology for autonomous driving.

A key role in this is played by cooperation with Waymo. Moove operates autonomous vehicle fleets for Google’s sister company. Operations have already begun in Phoenix and Miami, with London set to be the first international location.

Founded in 2020, Moove claims to currently operate around 42,000 vehicles in 29 cities across 13 countries. In addition to its autonomous vehicle business, the company also finances and operates vehicles for traditional ride-hailing platforms, positioning itself as Uber’s largest fleet partner worldwide.