Moove, the Dubai-headquartered mobility company building an operating layer for autonomous fleets, raised $250 million at a $2.1 billion valuation in a Series C led by Mubadala Investment Company. Woven Capital, Toyota’s growth fund, and Ion Pacific co-led the round, according to Mubadala’s announcement on August 5, 2026.

Moove finances, owns, and operates mobility assets for platforms across manned and autonomous transportation. The company said it has scaled from an initial launch of 76 vehicles in Lagos to about 42,000 vehicles across 29 cities in 13 countries, with annual recurring revenue of $420 million.

From ride-hail fleets to robotaxi operations

Mubadala said the Series C accelerates Moove’s global infrastructure platform as the market moves from breakthrough autonomy technology to scaled deployment. Moove’s model combines fleet management, robotics-first depot infrastructure, and 24/7 operations. Through its partnership with Waymo, Moove is already operating as a third-party autonomous vehicle fleet manager, with operations live or announced across Phoenix, Miami, and London.

BlueCrest Capital Management and Sona Capital joined as new investors, alongside existing backers including BlackRock, MUFG, Franklin Templeton, Uber, Left Lane, and others named in the announcement.

Decoded Take

Moove is selling the unglamorous layer autonomy still needs: vehicles, depots, capital, and operators who can run service every hour of the day. Sovereign and OEM capital in the round is a signal that the bottleneck is shifting from autonomy software demos to fleet economics. London will be an early international test of whether the model exports beyond U.S. launch cities.