Africa: Silverbacks Holdings Invests Record $37M in Global Mobility Company Moove

What the report says

Silverbacks Holdings said it has invested more than $37 million in Moove, a global mobility company founded in Africa and now headquartered in the UAE. The announcement, published by AllAfrica from InfoWire material, said the commitment was made through Moove’s recently closed Series C round and represents Silverbacks’ largest investment in an African-born tech company so far.

According to the report, Silverbacks has backed Moove since an early funding round and now says its cumulative exposure in the company exceeds $37 million. Based on the latest Series C valuation cited in the article, that stake is said to be worth more than $62 million. The piece describes Moove as an Uber-backed company that finances, owns and operates mobility assets for transport platforms, including work tied to autonomous vehicle fleets.

The article said Moove’s Series C raised $250 million and was led by Mubadala Investment Company, with Woven Capital and Ion Pacific as co-leads. Other investors named included Uber, BlackRock, Franklin Templeton and MUFG. It also said Moove operates in 29 cities across 13 countries and has about 42,000 vehicles in its platform. The development matters because it highlights continued investor interest in African-founded technology companies and in mobility infrastructure serving both ride-hailing and autonomous transport markets.