Moove Raises $250m to Expand Robotaxi Fleets
Moove, a leading autonomous mobility company, has secured $250m in funding at a $2.1bn valuation to run robotaxi fleets globally. The company operates 42,000 vehicles across 29 cities in 13 countries and reports $420m in annual recurring revenue. Moove partners with Uber and Waymo to offer self-driving services, positioning itself as a key player in the autonomous transport industry.
Key points
- Moove, a company founded in 2020 by Ladi Delano and Jide Odunsi, has raised $250m in a Series C round led by Abu Dhabi's Mubadala.
- The funding values Moove at $2.1bn, marking its growth from a regional financing play to a global infrastructure company.
- Moove operates 42,000 vehicles across 29 cities in 13 countries and reports $420m in annual recurring revenue.
- The company partners with Uber and Waymo to offer self-driving services, with live services in Phoenix and Miami, and plans to launch in London next.
- Moove's autonomous side is where it is placing its bet, offering to take the burden of car maintenance off self-driving firms.
Moove Raises $250m to Expand Robotaxi Fleets
Moove, a leading autonomous mobility company, has secured $250m in funding at a $2.1bn valuation to expand its robotaxi fleets globally. The company operates 42,000 vehicles across 29 cities in 13 countries and reports $420m in annual recurring revenue.
Moove's partnership with Uber and Waymo allows it to offer self-driving services, positioning itself as a key player in the autonomous transport industry. The company's autonomous side is where it is placing its bet, offering to take the burden of car maintenance off self-driving firms.
Moove's growth from a regional financing play to a global infrastructure company is a testament to its innovative approach to the industry. As the demand for autonomous mobility continues to grow, Moove is well-positioned to capitalize on this trend.
The funding round was led by Abu Dhabi's Mubadala, with Toyota's growth fund Woven Capital and Ion Pacific co-leading. Other investors include BlueCrest, Sona Asset Management, and the Raptor Group.
Moove's success is a significant development in the autonomous mobility industry, and its expansion plans are likely to have a major impact on the market.
Sources
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