Grace Ashiru
African investment firm Silverbacks Holdings says its cumulative investment in mobility company Moove has surpassed $37 million following its participation in the startup’s latest funding round. Based on Moove’s new valuation, Silverbacks says its holding is now worth more than $62 million.
Moove raised $250 million in Series C funding at a $2.1 billion valuation in August 2026. The round was led by Abu Dhabi sovereign investor Mubadala Investment Company and co-led by Woven Capital, Toyota’s growth fund, and Ion Pacific.
The company plans to use the capital to expand its autonomous-mobility infrastructure, including vehicle fleets, charging and servicing facilities and operational systems supporting autonomous transportation. Moove says it now operates about 42,000 vehicles across 29 cities in 13 countries and has reached annual recurring revenue of about $420 million.
Silverbacks has backed Moove since an earlier stage of the company’s development and has increased its investment across successive funding rounds. The investment firm described the latest commitment as its largest exposure to an African-born technology company to date
