ROBBRIEF
The round, led by Mubadala, Woven Capital, Toyota's Growth Fund and Ion Pacific, funds depots where Moove will charge, service and orchestrate autonomous fleets.
Moove, the Lagos-founded mobility operator, closed a $250 million Series C at a $2.1 billion valuation, according to The Robot Report. The capital funds the buildout of Moove's autonomous-vehicle business, including depot infrastructure the company calls "Nests."
The round was led by Mubadala Investment Company, Woven Capital, Toyota's Growth Fund, and Ion Pacific, with participation from BlackRock, MUFG, Franklin Templeton, Uber, and the Ontario Power Generation Pension Plan, among others.
Moove's Nests are depots where the company charges, services, maintains, and orchestrates autonomous fleets for continuous operation. Co-founder and co-CEO Ladi Delano framed the buildout in infrastructure terms. "Every major technology revolution becomes an infrastructure race," Delano said. "The internet required data centers. AI required compute. Autonomy requires fleets, charging, maintenance, data systems and 24/7 operations in every city."
Moove plans to grow its autonomous-vehicle workforce by more than 220% by year-end, from around 150 employees today to 500. Founded in Lagos in 2020, the company now operates roughly 42,000 vehicles across 29 cities in 13 countries and has expanded through deals including Brazil's Kovi and Uber.
The bet pits operator-owned, capital-heavy infrastructure against software-only autonomy plays such as Waymo, Tesla, and Pony.ai, which argue the durable margin sits in models and data rather than fleet operations.