Moove Raises $250M Series C at $2.1 Billion Valuation in Autonomous Mobility Pivot
Moove has raised $250 million in a Series C round led by Mubadala, valuing the African-founded mobility-fintech company at $2.1 billion and marking one of the largest funding rounds ever recorded by an African-founded startup. The raise accompanies a strategic pivot toward autonomous mobility and robotaxi infrastructure. Early backer Silverbacks reports its $37 million stake has reached a paper value of approximately $62 million following the round.
Moove's $250M: Silverbacks is the story inside the story
Mubadala, Toyota, BlackRock — the marquee names in this round are all foreign.
The quiet signal is Silverbacks: a Mauritius-based firm that backed Moove round after round, from early bets to a $37 million cumulative position now worth $62 million on paper. That is homegrown African institutional capital following conviction across multiple years into a single African-founded company — not a one-cheque cameo.
That kind of patient, repeat backing is exactly what the ecosystem says it lacks. Whether Silverbacks can do it again — and whether more firms build that muscle — matters as much as the unicorn headline.
5 sources
- 👨🏿🚀TechCabal Daily – A unicorn Moove · techcabal.com · T1
- Silverbacks Logs Massive Paper Gain as $37M Moove Bet Reaches $62M · launchbaseafrica.com · T1
- Nigerian mobility startup Moove raises $250m Series C funding round · disruptafrica.com · T1
- Moove Raises $250 Million To Lead the Robotaxi Industry · ventureburn.com · T2
- First-Time Founders Drive Nigeria’s Unicorn Boom · launchbaseafrica.com · T1