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Uber-backed Moove valued at $2.1 billion after new funding
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Uber-backed Moove valued at $2.1 billion after new funding
Aug 5, 2026 2:48 AM

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.

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