Funding round
Moove Series B
Moove, which works in vehicle ownership and financing services in Itirin, raised $100M in a Series B round announced on 19 Mar 2024, led by Uber, at a $750M post-money valuation. 7 firms took part. It is Moove's third venture round on record; the one before was a Growth in Aug 2023.
$100M
Amount raised
$750M
Post-money valuation
$650M pre-money
7
Investors
1 lead
1.4x
Step-up from the Growth
$550M in Aug 2023
13%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Moove at $750M after the new money, 1.4 times the $550M of its Growth (Aug 2023). The $100M bought investors about 13% of the company. It came 7 months after Moove's Growth. It is 19% of the $531M Moove has raised in the venture rounds on record. Moove raised again 29 months later: a Series C round of $250M in Aug 2026, at $2.10B post-money.
Moove's funding rounds
Moove has 4 venture rounds on record and 5 other deals. This one is highlighted.
- Debt not a venture round 1 May 2021 $40M
- Series A 14 Mar 2022, led by Speedinvest, Left Lane Capital and thelatest.ventures $105M
- Other not a venture round 19 Oct 2022 $17M
- Debt not a venture round 8 Dec 2022, led by Franklin Templeton Investments (ME) Ltd. $30M
- Other not a venture round 7 Jul 2023 $8.0M
- Growth 10 Aug 2023, led by Mubadala $76M$550M post-money
- Debt not a venture round 14 Feb 2024 $10M
- Series B this round 19 Mar 2024, led by Uber $100M$750M post-money
- Series C 5 Aug 2026, led by Mubadala, Woven Capital and Ion Pacific $250M$2.10B post-money
Investors
Who put money in
Uber led the round with 6 other firms.
Lead investor
- Uber new investor
Also in the round
- Mubadala backs 42 venture-backed companies new investor
- The Latest Ventures new investor
- backs 13 venture-backed companies new investor
- backs 38 venture-backed companies new investor
- Triatlum Advisors new investor
- backs 38 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: Series B rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tubulis Pharmaceutical Products | 14 Mar 2024 | $139M | not disclosed | EQT and Nextech Invest |
| Electronical Components Manufacturing | 25 Mar 2024 | $60M | not disclosed | Samsung Catalyst Fund and Tiger Global |
| Tech Companies | 21 Mar 2024 | $52M | not disclosed | Fidelity International Strategic Ventures |
| Food Production | 11 Mar 2024 | $52M | not disclosed | Stride Consumer |
| Tech Companies | 25 Mar 2024 | $50M | not disclosed | EQT Ventures |
| Tech Companies | 21 Mar 2024 | $50M | $550M | Pace Capital |
| Tech Companies | 7 Mar 2024 | $50M | $334M | Base10 Partners and Anthos Capital |
| Pharmaceutical Products | 13 Mar 2024 | $50M | not disclosed | Octagon Capital and Great Point Partners |
Sources
Where this comes from
Reported by 8 sources.
Questions
Frequently asked
How much did Moove raise in its Series B round?
Moove raised $100M in its Series B round, announced in Mar 2024.
Who led Moove's Series B round?
Uber led it, with Mubadala, The Latest Ventures, AfricInvest, Palm Drive Capital and Triatlum Advisors and 1 more.
What was Moove's valuation at the Series B round?
$750M post-money ($650M pre-money).
Did Moove raise again after this round?
Yes: a Series C round in Aug 2026 of $250M at $2.10B post-money.