Nigerian-founded mobility company Moove is expanding beyond vehicle financing into the infrastructure needed to keep autonomous car fleets running, following a $250 million Series C funding round that reportedly valued the business at $2.1 billion.
The company, co-founded in Lagos in 2020 by British-Nigerian entrepreneur Ladi Delano and Jide Odunsi, manages approximately 42,000 vehicles across 29 cities in 13 countries, according to information shared by business development researcher Anderson Anonzo on LinkedIn.
Moove’s expansion strategy centres on building facilities known as “Nests”, where autonomous vehicles can be charged, maintained, repaired and dispatched. Rather than developing self-driving software or manufacturing cars, the company is positioning itself to provide the operational infrastructure required to support autonomous mobility services.
Brandspur Brand News reports that the $250 million Series C round was led by Mubadala, with Toyota’s Woven Capital and Ion Pacific also participating. The funding comes as Moove develops partnerships with autonomous driving company Waymo in Phoenix and Miami, while preparing for a London launch.
The company’s reported annual recurring revenue stands at approximately $420 million. It also plans to increase its autonomous mobility workforce by more than 220%, signalling an expansion of its operations in the sector.
Moove’s strategy places it in a part of the autonomous vehicle market that extends beyond the technology powering self-driving cars. Charging facilities, maintenance services and fleet dispatch systems are essential to keeping autonomous vehicles operational, making the physical infrastructure behind the technology an important part of the emerging mobility ecosystem.
However, the company’s international expansion contrasts with a claim raised in the LinkedIn discussion that Moove has shut down operations in Nigeria, where it was founded. The comment did not provide supporting details, and the claim has not been independently verified.
The reported valuation, funding and fleet figures point to Moove’s international scale, while its move into autonomous mobility infrastructure marks a further development in the company’s business strategy.
