Moove, a global leader in mobility solutions, has announced the acquisition of Kovi, an urban mobility provider headquartered in São Paulo, Brazil.
This strategic move marks Moove’s significant expansion into the Latin American market, aligning with its vision to build the world’s largest rideshare fleet and advance mobility technologies.
Launched in 2020, Moove has rapidly scaled its operations, providing dedicated vehicle supply through Drive-to-Own, Taxi, and Autonomous fleets. The acquisition of Kovi increases Moove’s total global fleet to 36,000 vehicles, extending its operations to 19 cities across six continents. This expansion not only solidifies Moove’s position as a leading rideshare fleet operator but also integrates Kovi’s proprietary IoT software and advanced driver behavior algorithms, enhancing Moove’s focus on safety, efficiency, and AI-driven mobility solutions.
Founded in 2018, Kovi has been a pioneering force in making car ownership more accessible and efficient through innovative technology and financial solutions. With a strong presence in Brazil and Mexico, Kovi’s data-driven approach to vehicle management and user experience complements Moove’s existing capabilities, enabling the combined entity to offer superior services to customers and drive impactful change in mobility.
Ladi Delano, Co-Founder and Co-CEO of Moove expressed enthusiasm about the acquisition, stating, “Kovi has built an impressive business with a robust presence in Brazil, one of the most dynamic mobility markets in the world. We’re thrilled to welcome them to the Moove family. This transaction not only strengthens our footprint in Latin America and reinforces our position as a dominant player in global mobility, but it also underscores our commitment to contributing to the Brazilian economy. Kovi’s proprietary IoT software and advanced driver behavior models complement our existing capabilities, supporting our focus on safety, efficiency, and innovation in AI mobility.”
Adhemar Milani Neto, CEO of Kovi, shared similar sentiments, stating, “Today, we stand at the forefront of a new era in mobility, and we believe that Moove has done a fantastic job at scaling their business on a global scale and with the right strategic angles. I met the founders many years back when they were scaling their business in Africa, and I was immediately impressed by their purpose-driven approach, which is also a perfect match to our culture. Together, I believe we will become a truly global category-defining business and will leverage scale and deep expertise never seen in our market. We are also excited to continue our expansion across Latam now with robustness with such strong partners.”
The completion of the transaction is subject to customary closing conditions, including approval from the Brazilian antitrust authority. Once finalized, this acquisition is expected to significantly bolster Moove’s presence in Latin America, contributing to economic growth in the region and advancing the company’s global mobility objectives.
Moove’s growth has been fueled by its global partnership with Uber and support from leading investors and lenders, including Uber, Mubadala, BlackRock, MUFG, and others. With operations now spanning 19 cities across six continents—Africa, Asia, Europe, North America, South America, and the Middle East—Moove continues to expand its offerings through strategic acquisitions and partnerships with industry leaders, including Waymo and Uber. The company is transforming mobility to make it safer, more efficient, and accessible to all while providing economic opportunities and supporting skills development in the mobility sector.
This acquisition represents a significant milestone in Moove’s mission to revolutionize urban mobility and underscores its commitment to leveraging technology and innovation to drive global growth.
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