Dubai's Moove Reaches $2.1 Billion Valuation in New Funding
Moove raised $250 million to expand into new markets and develop services for self-driving vehicles.
Dubai-based mobility company Moove has raised $250 million in a funding round led by Abu Dhabi sovereign wealth fund Mubadala, lifting the company's valuation to $2.1 billion.
According to Co-Chief Executive Officer Ladi Delano, the new funding will be used to expand Moove's international footprint while developing services for autonomous vehicles, marking the company's next phase of growth beyond its existing vehicle financing and fleet management business.
The company plans to broaden its offering by adding services designed for self-driving cars as it expands into new markets, reflecting growing demand for mobility infrastructure that supports autonomous transport.
Founded as a vehicle financing and fleet management platform, Moove has been expanding its operations internationally, with the latest investment providing additional capital to support both geographic growth and the development of new mobility technologies.
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