LAGOS, Aug 5 (Reuters) - Uber ( UBER )-backed mobility company Moove
said on Wednesday it had raised $250 million in new funding,
taking its valuation to $2.1 billion, as it seeks to expand its
autonomous vehicle business.
* Founded in Lagos in 2020 with 76 vehicles, Moove has grown
into a global ride-hailing fleet operator with around 42,000
vehicles in 13 countries. It said its annual recurring revenue
is $420 million.
* The latest funding round was led by Abu Dhabi's Mubadala
Investment Company, with support from Toyota's growth fund,
among others.
* "The funding will support expansion of Moove's autonomous
vehicle business, including fleet ownership and robotics-first
depot infrastructure where autonomous fleets are charged,
serviced and maintained," the company said in a statement.
* Moove already has backing from Uber ( UBER ) and asset managers
BlackRock ( BLK ) and Franklin Templeton.
* Moove has expanded through organic growth and acquisitions
including Kovi in Brazil and Tokyo Taxi in Japan.