Mubadala Investment Company, Abu Dhabi’s sovereign wealth fund, has led a $250 million Series C funding round for Moove, pushing the valuation of the UAE-headquartered mobility company to $2.1 billion. The investment marks one of the more significant recent bets by a Gulf sovereign fund on the fast-evolving autonomous vehicle sector, and signals continued confidence in mobility technology as a growth area for the region’s institutional capital.
Moove operates in the space of autonomous vehicle fleet infrastructure, a segment that sits at the crossroads of traditional transport and next-generation self-driving technology. The company’s positioning has drawn attention as autonomous mobility moves from pilot projects toward more commercially viable deployment in various markets, with fleet operators increasingly seen as essential intermediaries between vehicle manufacturers, technology providers and end users.
Strategic Fit With UAE’s Tech Ambitions
The funding round fits into a broader pattern of Mubadala directing capital toward homegrown UAE technology and mobility ventures, reinforcing Abu Dhabi’s ambitions to position itself as a hub for advanced transportation innovation. The emirate has in recent years pursued a deliberate strategy of nurturing domestic companies with global growth potential, particularly in sectors seen as central to economic diversification away from hydrocarbons.
By backing Moove, Mubadala is aligning itself with a company that operates in a segment expected to see substantial expansion as autonomous vehicle technology matures and regulatory frameworks catch up with the pace of innovation. For the UAE, having a domestically based player with international ambitions in this space adds to the country’s profile as a testing ground and investment base for advanced mobility solutions.
The $250 million raised is intended to support Moove’s expansion, though the company has not detailed which markets or operational areas will be prioritized with the new capital. What is clear is that the scale of the round reflects investor appetite for companies perceived to be well positioned ahead of a broader shift toward autonomous fleets, an area still considered early-stage but with substantial long-term commercial potential.
The deal also illustrates the continued willingness of GCC-based sovereign and institutional investors to commit significant sums to emerging mobility and autonomous vehicle infrastructure plays, even as valuations across the tech sector remain sensitive to shifting global interest rates and investor sentiment. Sovereign wealth funds in the region, including Mubadala, have increasingly used such investments to build exposure to sectors expected to define future economic growth, ranging from artificial intelligence to clean energy and now autonomous transport.
For Gulf-based investors and policymakers, the Moove transaction serves as a reminder of the region’s growing role not just as a source of capital for global technology ventures, but as a base from which such companies can scale internationally. With Moove now valued at $2.1 billion following the Series C round, the company joins a small but growing cohort of UAE-headquartered firms that have attracted significant institutional backing while pursuing ambitions beyond the domestic market.
The transaction comes as competition intensifies globally among companies seeking to establish themselves in autonomous fleet infrastructure, a sector expected to attract further capital as technology providers, regulators and investors work through the practical and legal challenges of deploying self-driving vehicles at scale.
