Moove raises $250 million to finance and operate robotaxi fleets
Mubadala led the Series C at a reported $2.1 billion valuation as Ladi Delano and Jide Odunsi expand from driver finance into autonomous fleet infrastructure.
By Ryan Merket · Published
Why it matters
Moove is building the capital and operating layer around robotaxis, a role that could become valuable if autonomous-driving developers continue outsourcing vehicles, depots and fleet uptime.
Moove has raised $250 million in a Series C led by Mubadala Investment Company, with Woven Capital and Ion Pacific as co-leads, according to TechCrunch. Co-founders Ladi Delano and Jide Odunsi are using the financing to expand the mobility operator from driver finance into robotaxi fleet operations and pursue eventual vehicle ownership.
The round values Moove at a reported $2.1 billion, according to TechCrunch. The report did not specify whether that figure is pre-money or post-money or disclose the financing's equity and debt composition. Delano plans to use debt to buy robotaxis, placing vehicle ownership and financing at the center of Moove's expansion plan.
The strategy extends the operating model Delano and Odunsi developed in Nigeria. The pair met while studying in London, Delano at SOAS and Odunsi at the London School of Economics, and bonded over their families' Nigerian roots, according to a 2024 Pictet profile. Before Moove, they built businesses together including Express Pharmacy, a Lagos pharmacy chain. Odunsi later added experience at Goldman Sachs and McKinsey, along with graduate degrees from MIT Sloan and Oxford, BusinessDay reported.
Moove began in 2020 with a revenue-based financing model. Delano and Odunsi used trip and earnings data to underwrite drivers and collect repayments from the revenue those vehicles produced, according to the Pictet profile.
That experience gave Moove two capabilities that robotaxi developers need: access to capital for vehicles and the ability to keep a large, distributed fleet earning money.
From driver finance to robotaxi uptime
Moove owns and operates 42,000 human-driven ride-hailing vehicles across 14 countries and employs 3,300 people, according to TechCrunch. It also continues to finance vehicles for gig workers.
The scale grew partly through acquisitions. After acquiring Kovi on January 29, 2025, Moove reported a global fleet of 36,000 vehicles and approximately $275 million in annual recurring revenue.
Delano began examining autonomous vehicles in early 2023. His conclusion was that autonomous-driving developers, automakers and ride-hailing marketplaces would need a specialist to handle the capital and physical work around the software.
"In this world, who owns the vehicle? Who operates the vehicle? Who orchestrates the vehicle?" Delano told TechCrunch.
Moove's answer covers fleet dispatch, depots, charging, maintenance, cleaning, safety procedures, servicing and lost property. Autonomous-driving developers retain responsibility for the systems that drive the cars, while Moove handles the work required to put those cars back on the road trip after trip.
That division is already operating inside Waymo's fleet partnership with Moove. Waymo said in December 2024 that Moove would manage fleet operations, facilities and charging infrastructure in Phoenix and later Miami. Waymo would continue to run the Waymo One rider service and remain responsible for validation and operation of the Waymo Driver.
The companies announced a London expansion in October 2025.
Delano also told TechCrunch that Moove already owns robotaxis made by another autonomous-vehicle developer, which he declined to identify.
That ownership plan is the consequential part of the Series C. Fleet management produces operating revenue without requiring Moove to develop an autonomous-driving system. Vehicle ownership could give Moove a larger share of each robotaxi's economics, while loading the balance sheet with depreciating assets that require high utilization to cover financing costs.
Delano wants to automate the depot
Moove plans to use part of the Series C to expand its team and develop automated depot infrastructure, according to TechCrunch. Delano described facilities that could run around the clock, using robotics to automate charging, maintenance and servicing.
Moove's hiring shows that the depot is also becoming a software product. A current principal software engineer listing describes an autonomous fleet and depot platform powered by generative AI, large language models and real-time visual intelligence. The posting also references agentic AI, real-time scheduling, automated charging and predictive fleet maintenance.
Moove AV is led by co-founder and CEO Ming Maa, a former group president of Grab who previously worked at SoftBank and Goldman Sachs. Adding Maa gave Delano and Odunsi an operator with experience inside a large ride-hailing marketplace, complementing the founders' background in vehicle finance and fleet ownership.
The physical operation remains labor-heavy as Moove develops depot automation. Moove's current careers page lists openings for technicians, cleaners, safety managers, infrastructure engineers and deployment staff across Phoenix, Miami and Las Vegas. Robotaxis remove the paid driver from the vehicle while leaving a substantial workforce behind the ride.
The outsourcing bet
Moove's opportunity depends on autonomous-driving businesses deciding that fleet ownership and depot operations belong with outside partners. Waymo's arrangement provides evidence for that model. The participation of Woven Capital, Toyota's growth-stage investment arm, adds an automaker's capital to the same thesis.
Other robotaxi developers are taking different approaches. Zoox says its robotaxi is purpose-built, all-electric and bidirectional. Bloomberg reported in March 2026 that Amazon-owned Zoox had signed a multiyear Uber partnership, with robotaxi availability planned for Las Vegas in summer 2026 and Los Angeles in 2027. Vertically integrated operators can keep tighter control of the rider experience and vehicle data, reducing the work available to independent fleet managers.
Delano is betting that most autonomous-vehicle developers will prefer to spend their capital and engineering attention on driving systems. Moove would finance the cars, build the depots and manage uptime across multiple developers and markets.
The $250 million Series C funds the first layer of Delano's stated plan to build a fleet numbering in the hundreds of thousands of robotaxis, according to TechCrunch. Reaching that target will require far larger pools of capital, disciplined maintenance and enough rides per vehicle to cover the assets' financing costs. Moove's human-driven fleet has already taught Delano and Odunsi how to finance vehicles around their earning power. Robotaxis will test whether the same playbook works when the drivers disappear and the assets become considerably more complex.