Moove raises $250M to become the backbone of the robotaxi industry

Moove — $250M Series C, Aug. 5. Autonomous-fleet infrastructure company Moove raised $250 million, reportedly led by Mubadala, at roughly a $2.1 billion valuation. Other investors include BlackRock, Franklin Templeton, MUFG, Uber and Ontario Power Generation Pension Plan. Moove operates Waymo fleets in markets including Phoenix, Miami and Las Vegas and plans to build highly automated depots for charging, maintenance and servicing robotaxis. 
PE/VC relevance: This is an interesting picks-and-shovels play on autonomy. Investors don’t have to bet on which autonomous-driving stack wins; Moove is positioning itself as the fleet ownership, operations and infrastructure layersupporting multiple AV markets.